Fleece;
Those are pretty cool hulls...and you can make 'em go pretty fast!!
I have built mono-hulls almost excusively over 20 yrs...and believe me....you can give almost any hydro a run for their money...in rough water..you will smoke 'em! (Now I am gonna hear it from the hydro dudes)
Start by overpowering...an OS .90 or similar should do...next, you will need trimtabs to keep her in the water at speeds over 40mph. A really smooth finish on the bottom will help for overall performance/handling too.
Drive hardware is important. I recommend the 'strudder' (strut/rudder) assembly from Aeromarine. Its butt-ugly, but very functional. (and pretty cheap) It will also allow for some great 'fine-tuning'.
Hot fuel is over rated. 25% should be all you need for all-round reliability/performance.
If you are feeling ambitios, install twin .45s, or .60s. (Counter-rotating is even cooler but not req'd) It will diminish the torque steer you will get with one monster engine.
At the end of the day, you may not catch a hydro. You may have more power, but control is directly proportional to speed. Over 60mph....it will be impossible to keep under control in anything other than 'mirror' or very light chop conditions...and this is where a hydro will 'shine'.
...in rough chop....you will smoke 'em!!
PS: Install flotation!!! I hit (we met!) a hydro-boater @ WOT (with a similarly overpowered boat) last summer, and confirmed my beliefs that Mono's sink faster!! Doh!! ???
..diving for smashed models sucks!!!