Hi Andy,
I think the answer to your question is yes you could use that combination, but it would not work very well. There are several Graupner 400 sized motors and they all do over 16000 rpm on no load at 7.2 volts. In reality with a 30 mm propeller immersed in the water the rpm they could achieve would be much lower, well away from the optimum speed with the result that the motor would get pretty hot. You could fit a gearbox or belt drive with something like a 4:1 speed reduction but they tend to be noisy and you would lose some power and efficiency and might not have the space to do it.
My narrow boat is 1.06 metres long and weighs 8.3 kg. It has a Graupner Speed 500E motor (part number 1788) running on a 7.2 volt battery, driving a 40 mm 3 bladed propeller. Performance on the water is very realistic and if you do use full throttle it can manage greater than scale speed, although it takes a while to accelerate. The free running speed of this motor is 7200 rpm and with the prop in the water it achieves about 3000 rpm. I have tried the same motor in another application with a 30 mm prop and it achieved 4700 rpm which is actually a very good match, better than in the narrow boat. That would be my recommendation but there may well be other possible solutions.
One point to be aware of is that motor manufacturers make lots of different motors which may be of similar overall size and designation but can have widely different characteristics. If you want to understand what combinations of motors, propellers and battery voltages work then you must be clear exactly which motor part number you are considering. There was a smilar question on another part of the forum a couple of days ago when someone asked for a motor recommendation for a particular model. Someone recommended 'a Johnson motor' which is virtually meaningless since Johnson make hundreds, if not thousands, of different electric motors.
Gareth