You could go with one of these Feigao motors like I did - I have the XL11 (Got if from Diesel). I'm getting consistent 55mph with a x642 prop running 2 3S 5000Mah 25c Lipos.
It's cheaper than the Ammo. Either way you'll need a better speed controller like a 120 amp or something. Diesel recommended the Seaking 120A ($89.00 or something) and I love my SV now. Now, it's all about weight distribution to keep this thing on the water. I still have not truly got to full top end yet since it keeps trying to fly!
(new motor in, and Back on the water!) 
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