Thanks Steve,
You could start by doing it right from the start, not like myself…

I tried 7-8 motors + esc combos, burned a few until I found a good pair. My conclusions would be:
1. Even though In-runners are far more practical to attach, slimmer etc. their downside is too high rpm (kv) = less torque and cooling. They either rely on pass-through water or air cooling. I really wanted them to work but for me it was impossible. Out-runners are the way to go.
2. Goal for me was to get as small motor with as low KV rating as possible which is not the easiest since kv is related to size, unless you wind your own motors. As example this
http://www.hobbyking.com/hobbyking/stor ... 0_55_.html
has loads of trust but as you can see impractical. (It’s Uber-cool however

)
I settled with a 600Kv version of this. Loads of trust in a tiny package. Think mine are under-propped (50mm robbe) and that I should change to 60mm.
http://www.hobbyking.com/hobbyking/stor ... 750kv.html
Paired with this esc,
http://www.hobbyking.com/hobbyking/stor ... R_ESC.html
Which is total overkill since current will never come close to 35A/motor + that the controller fuse is 10A. Also the fan on top is only rated 7V and makes a funny sound before it blows when connected to 13V

. I also have a few of this:
http://www.hobbyking.com/hobbyking/stor ... ramm_.html
Think they are better suited for the above motor. I will give them a try.
3. One useful thing frequently unnoticed with ESCs is that most of them have a BEC (battery elimination circuit)
which diverts some power from the motor to other devices on lower voltage (5v) With this you can have 4 X 5v outputs which are always on. In RC they are used to lower landing gears on planes when motors are shut down due to voltage drop. For us maybe it can be used to power servos and/or solenoids in case of drained battery.
4. Power: Tried to measure current in a tub but it was difficult. Without load my setup draws 1.5A/motor. I tried to stall one motor (by holding the prop shaft) and got the current to 9A. I think it draws 13A if fully stalled. In tub I climb up to 3-4A/motor when running with load.
5. Magnetic Couplers: Was really considering this. I even pre-order some from a milling facility but cancelled due to the cost of motors. They wanted 280$ per coupler and after reading on the German ROV forums on how they use their brushless in saltwater open with great success I decided to go that way. I can buy 28 motors for the price of one coupler. ESCs cost more but they are fuse protected anyway.
Hope this helps, anything I forgot?