Colin is correct, but for normal use conventional prop shafts have been fine in the four scale models of mine that have brushless motors. These 4mm prop shafts are either the slim Graupner variety, or the larger brass 3/8 inch o.d. tube with sintered bearings. Lubrication for the top bearing is essential – I have a grease nipple on each tube and after each session put a drop of standard oil on the top bearing/shaft. The lower bearing is always lubricated by water and I have yet to have one wear out.
Mu Models by Design 1/16 scale fishing boat has a 300kv motor running on 7.4v and is very powerful (300w+), but the prop shaft is a standard one with a rubber coupling.
If rpm are to be high (ish), eg as in my Sievers Pilot boat with 950kv motors on 11,1v, then decent concentric couplings are essential – It is no good if they are out of line or not perfectly true as you will get vibration and noise. This boat has the slimline Graupner shafts and is now 4 years old.
My default now is to fit the rubber type of coupling and the drivetrains have been/are near silent.
Fast Electric boats are a very different ballgame though, usually using special prop shafts, bearings and tubes.
Paul.