Martin,
Re: wattmeters, the one I got is the SkyRC iMeter 7-in-1 multimeter (**LINK**), which does indeed go in the boat (or whatever) and which will record and remember (until it is deconnected) among other things the peak current:

This is of course handy, as it allows one to get a peak current draw figure from actually running the boat, as opposed to holding it still. It is also possible to get a reading of current draw, but only by looking directly at the meter which of course takes one back to the holding-it-still scenario where current draw will be more or less the same as peak draw.
As Ashley has already said, peak draw is very useful figure to know for configuration purposes, although I would not have minded also being able to know average current draw, as this would be a rather useful figure for comparison with peak when calculating potential run times.
This particular meter also has an optical tachometer, a battery tester, thrust calculator, temperature gauge and battery checker, the only one of which I've used so far is the tachometer. The latter is of course primarily intended for air props, but did seem to work on a boat propeller, too; at least it gave me a reading in the expected RPM range, although I did of course not have anything to check the reading against. And of course that reading had to be taken out of the water, so the value of this particular bell-and-whistle for model boats is perhpas a tad limited. I haven't yet tried painting a line on (for example) the motor-propellor axis coupling to see if I could get a reading from there, too, but will have a go at that one of these days. If that works, it would of course be possible to check RPM's with the hull in the water, too.
I'm not particularly trying to say that this thingamajig is the bees-knees, must-have, cat's pyjama of a wattmeter, and it is of course more expensive than a simpler one, but it has so far done what it says on the box to my full satisfaction.
/Mattias