Jay, you don't say what type of boat it is, ie fast or slow. For a faster boat, I'd certainly use rudders as they will enable smooth turns without an excessive loss of speed. I'd go with Pete on using twin ESC's, one for each motor. This gives excellent manouverability and fine control, possibly what you're looking for, especially in a slower model. Mixers work very well, but work on mixing the rudder servo signal with the throttles (at least I think they do...I haven't used them before) so you'll need a rudder channel anyway. I'd be tempted to go straight for the 4 ch set, but then I'm just greedy!
Hope you get it sorted out OK, whatever you choose.
Mike