Tigertiger, it does depend on various technical circumstances. First of all, if you draw high Amps a Nicad or NIMH is definately better as a Lead-battery. Then calculate your maximum weight which you may add to the boat, left for accus or batteries. I.e a Torpedoboat scale 1:100 with an deadweight of about 1,5 Kilogramm it will be difficult to place a lead-battery inside. In this case NIMH is by it`s ratio Weight/capacity first choice. If you have a merchantman, which will draw about 3, 4 Amps and you have some deadweight left of 6 or 8 Kilograms- I think that a lead-battery is much better as you may have more capacity and it is cheaper. The higher the capacity raises- the cheaper lead- batteries will be in their ratio. I.e. just calculate 12V 7,0 Ah Lead Battery to a NIMH-Accuset, 10 cells 7,0 Ah. But if you draw i.e. 15 Amps for the motor, the lead-Battery will break down very shortly. Then a NIMH is first choice.
Do you have any particular example in mind?
Hope this was out of any help.
Jörg