All, since I have been using brushless motors for a while in rc and successfully in my karlsruhe last season for combat I figured that I would post my experiences with them as it pertains to combat and try to answer any questions you all might have.
First off, the disadvantages. Cost Cost and more Cost. While the ESC will run you about the same as the new viper marine brushed ESC's, the motors are not cheap. Expect to spend between 40-100$ per motor (however a ship has not been made which can not be run well off of one brushless motor, appropriately chosen, geared or belted to the rest of the shafts). If you (for some reason) end up buying the 100A continuous ESC that I will talk about later, you will end up out about 150$
Disadvantage number two: You WILL have to waterproof or encase the ESC yourself. There are no waterproof, brushless, reversing ESC's that I am aware of in the reasonable price range.
Disadvantage number three: Should your pump be governed by motor can diameter (per your ruleset, it would appear that the IRCWCC dispensed with that rule in the latest version available online), be forewarned... Brushless motors come in all shapes and sizes.
Now we will go onto the advantages.
First, no brushes to corrode and the bearings are replaceable. The efficiency is better and the torque (if the correct motor is chosen) is far higher than brushed motors. These are motors that you can (if chosen correctly) can be run direct drive. you may even have to gear them up if you get a particularly torqy motor.
The motor (if properly chosen) will drain better and take up far less space than a can motor. this allows for more compact gearboxes and drive trains.
The ESC's can be plugged into your computer. You can set throttle curves, sensitivities, start impulse, voltage cutoff (e/g. it kills motor power until brought back to idle if the supply voltage drops below a certain level while still keeping the servos powered), reverse timing (variable delay from zero, break before reverse, all programmable) which you can use to set the ESC to stop the prop before slamming in reverse to save wear and tear on the drivetrain. The ESC's also are definitely very conservatively rated and have very good current/temp (I suspect it is temp based for the limit at least partly) overload kill (e.g. it prevents too much current from being pulled through the ESC to preclude the release of magic smoke.
Now for the types that work well. Any outrunner brushless motor should work well for you, however it is IMPERATIVE that you find one that has large drainage holes. And be aware that in this type of motor, the outer housing. DO NOT BUY AN INRUNNER. Inrunning motors (E.g. the inner spindle turns, the outer housing stays stationary) generally turn at very very very high speed (one of my hacker speed ~200 equivalents runs at ~40000 rpm) and are sealed (not well enough for full immersion.
see this picture and you can see the drainage holes. The motor in question should power my Tirpitz nicely (although if it is too small, I can always go larger). It is a 275W motor which I will probably run off of 12VDC.

The ESC's that I have found that work are the Castle Creations Mamba and Mamba Maxx ESC's. Combined with the Phoenix Link (or whatever castle creations is calling it this week) you can update the firmware, change all the previously mentioned settings, etc. from your computer.
Now onto waterproofing the motor. Yes you can do it. I like Aeroplate. Simply dunk the motor in it. and then brush some on periodically. That will keep water out of the nooks and help your bearings last longer.
I ran a small motor (the E-flite Park400) in my karlsruhe and I was able to run for about an hour on 3.2 Amp Hours at 8.4V full charge. which means that even though I was, until I turned the ESC down, running at ~20 seconds per 100 feet, I was pulling on the order of 3 amps through that motor (compared to some 20A that I could have pulled). All in all it seemed to me that I was running far more efficiently than in any of my previous ships with brushed motors. That and the engine space was about 50% what it would have been with a brushed motor and gearbox.
Well, I have rambled on enough I suspect. I think that my motor choice will work for the tirpitz but due to the lack of experience as far as what motors work best in what ship there is still a great deal of playing to be done. Most helpful thing would be some knowledge of the speeds at which the propellers need to turn for the good running ships as well as the current draw to the brushed motors on said ships. with those two bits of information, one can make a good estimate at what motor will be required.
any questions/comments, that is what this thread is for.
-Greg