Hi Jan,
As to the temps of the goodies inside... I could put my hand on the motors, and I'd consider them to be very warm, but I wouldn't have to let go of them. On my coast guard boat, without water cooling, they would get hot and would have to take my hand off. The next time I run both models simultaneously, I can use my IR temperature device to get a better idea of the temps. I'm happy the motors didn't seem to want to burn up.

I would think with 700 motors, and with the batteries you suggested, the boat would really fly!
I don't have a lot of experience with LiPos, so I'll probably keep the boat running pretty moderate for now... I think I've read if the packs are getting hot after running them, you're pushing them too much.