The ESC has a large capacitor because "A large power capacitor (Novak power capacitor) is used to smooth this ripple out so that the average voltage available to the ESC is close to the battery voltage. This serves to not only protect the ESC electronics, but will also increase the RPM's available during partial throttle."

Here is everything you wanted to learn about the Power cap from Novak- [link=http://www.teamnovak.com/tech_info/power_caps/power_caps.htm]http://www.teamnovak.com/tech_info/power_caps/power_caps.htm[/link].

The other components soldered on the motor are capacitors to help filter electronic noise generated from the motor. Otherwise, the noise generated from the motor's spinning would travel down the motor power wires and possibly interfere with the ESC and/or receiver circuitry.