Hi Steve.
my general thumb knowledge.
High torque motor for
Large tug, fishing trawler, cargo boat, liner etc a large "scale model" traveling at a medium walking pace.
Prop. usually large brass course pitch slow turning. The model usually has a bit of displacenent to it (ie a hernia job)
The geared hecto and decaperm also fits this use for category.
A speed motor for
the power boats, (some) cabin cruisers, fast elecrtics, patrol boats etc or small "scale models" A light weight model where
the motor wont complain (get very hot).
prop usually 2 blade plastic for fast boats or 3 blade plastic for the more scale type model
motors can be geared up to increase their speed or down to reduce speed.
A geared fast motor will reduce the amps a bit that the motor will draw and give you a longer sailing time for a small
reduction in speed.
I deally you look at the motor prop selection, to the type of model its for, and will the motor cope with the displacement
the model has, to make it travel at a scale speed.
cheers Frank