Hi MrW, I built one of these many years ago, the wooden one. The wood for planking in my kit was fine, and it all went together without any problems. It's also true that not everyone is so lucky with the wood. If your planking wood has dried out, first try soaking it for 24 hours, and then see if it will be OK to use. If not, then just order some more wood for planking from your favourite model shop. In my case that's Cornwall model boats. Just tell them what the wood is for, and how many planks of what size you want.
I can confirm that the 385 motor is ideal and cheap. Don't mix it with a 380 motor, same physical size but totally different. Use 7.2 volts NiMH battery or 2 s lipo if you already have those. Don't forget to order a coupling, again just tell the shop the motor and shaft size. A 35 mm 3 blade brass prop would be my choice.
Lastly, the subject of cheap Chinese ESC s or recognised UK made ones that cost more is a subject that had been disscused to death on here, and I don't intend confuse your question by re opening that subject. You've had a recommendation for one type, but for what it's worth, I use Mtronics viper controller's in this type of set up. The 10 anp one will be fine.
I hope some of that helps without side tracking you from your question.
Chas