Most of my larger Classic Model Power Boats run with a 50S propeller as this seems to suite them better than other sizes that I have tested, but some have run with a 45X and 50X props reasonably well too.
I have found the Sea King ESC to be totally reliable and they seem to run my boats more smoothly and with more power than any of the alternative ESC that I have used that have the same (or similar) power ratings.
The 120amp and 150amp Sea King ESC that I have used have delivered all the performance that I could ever need, and none of them has ever run HOT. All my Sea King ( and re-badged Turnigy) ESC are water cooled.
My experience with fan cooled 120AMP ESC has not been as good, but they have run well enough without over-heating, but they do not seem to be able to deliver the power as relentlessly.
Water cooling keeps everything running slightly warm and when coupled with inexpensive water-cooled alloy motor mounts the motors run as cool as the ESC. Even the "self-cooling" out-runners benefit from running in an alloy water-cooled motor mount as it helps to keep the main bearing cool.
Strangely I have never found any great benefit from running my in-runner motors with their optional water jackets connected. When I disconnect the water cooling pipes, the large alloy water jacket seems to dissipate the motors heat just as effectively !
I am going to try one of the 100amp water-cooled SHARK ESC in my Sprite plus as I see them working well in some of the power boats, and I when I have drive them they "feel" like my Sea Kings, so I am keen to try one on my own model.
I also run the 90AMP Sea King (or re-badged Turnigy) ESC in my smaller Remora and that performs superbly with a 40S or 45S propeller.
In real terms I have found not advantage on our small lake by running 3S or 4S LiPo batteries instead of 2S.
To benefit from the extra volts, the propeller usually needs to be reduced in size to allow the motor to rev more freely. The increase in speed (in the same hull) is minimal compared to running 2C LiPo packs, but the duration is reduced so I get shorter run times.
For "out and out" racing where speed is the most important factor, then higher voltage's will help, but I no longer compete or race, so I find the higher voltage packs to be of no benefit - and they cost more!
Bob.