The question of scale speed crops up regularly, and usually attracts the reply that it is boring due to a lack of understanding regarding what happens to scale when considering area and volume.
Empirically, when it looks right, it is right, but when it looks right it is invariably found that the model speed is equal to the real speed divided by the square root of the scale, not the scale itself.
Consider a 10kt ship at 1:100 scale, rather than doing 10/100=0.1kt, when it looks right, it will be found to be doing 10/sqrt100=1kt. (Nice round numbers picked to keep explaining it simple)
Power relates to moving a mass, which is proportional to volume, so use the cube of the scale, just as you would to work out the displacement. With about 750 watts per Hp, if you know the Hp of the original you can convert to watts. Divide this by the cube of the scale, you have the motor output required. To allow for small motor inefficiency and whatever the shaft bearings and model prop are going to do at you, multply that by 1.5 to get the right motor input wattage and you can work out the current required at any voltage. The only black magic concerns the efficiency of the model prop and the motor manufacturers specifications.