Even with those relatively low capacity batteries, you have the potential for large circulating currents.
For example, the 4000mah batteries with 40c rate have a burst current max of 160 amps. So, you need the rest of the circuit components to at least equal this current carrying capacity. That means an esc of at least 175a, allowing for a safety margin. Connectors...4mm bullet connectors have a max load capacity of 150a, so 6mm is prob the best bet.
I have a bit of experience with these esc things burning out, single phasing, connectors melting, batteries bursting into flames etc and its expensive if you dont get it right.
One VERY important thing to get right is getting the connections soldered onto the cable properly. I thought I had it sorted but was going through esc's at an alarming rate until I discovered that my connector soldering wasnt as good as it should have been, causing arcing in the connector, overheating, melting, battery swelling and esc failure due to single phasing.
Get it all right and they are a great power set up, get it wrong and it costs money, and if you are really unlucky, may get you a burnt out boat!
I recommend you read up on the safety instructions on Lipo batteries, along with charging advice.
Here is an interesting video:
http://www.youtube.com/watch?v=5J96ywv7yAMNot trying to put you off, just want to make sure you are aware of the risks these things carry with them.
Ian