They are much lighter, so go for the highest capacity you can afford. You don't NEED to run a Lipo esc, but it is recommended, as a Nihm/nicad esc will discharge the lipo too far, killing it, unless you bring the boat in as soon as you notice a drop in power. With a Lipo ready esc, you tell it how many cells you run, and it won't allow it to go below 3V per cell.
A fully charged 3s Lipo is over 12V so you ned to make sure everything else will cope with the voltage, but they give much higher current so you might find a 2s pack will go great in that and will be cheaper to buy. A fully charged 2s will be running at 8.4V when freshly charged.
They don't blow up as long as you treat them sensibly, puncturing them is a no no. but if your worried, you can now buy batteries for RC Cars which are hard cased in a plastic block. Shorting them makes them go bang, but then it does to Nihm's too!
You MAY struggle to get a lipo ESC that is for brushed motors, most are doing the switch to brushless at the same time. it is worth doing if you want more power, as brushless motors are now very cheap and much more efficient.
Hope that helps.