There have been a few Monster V3 failures like you say, but literally only a few if the RC-Monster forums are anything to go by...a lot of people there are running the V3s (or V1\V2s with the new firmware) without any problems now. Most of the problems so far have actually been due to a poor setup (one guy was seriously overstressing his LiPos, resulting in a lot of voltage flutter, which killed the Monster). I've got a V1 with the new firmware and a V3 case, which I'm waiting to run.
As far as waterproof-ness...the Monster isn't officially water *proof*, but it is water resistant. All of the electronics are clear silicone coated, so it can handle splashes with no problems.
The MGM's a good choice, they're nice ESCs. What model do you have?
Quote:
Originally Posted by smOkin
I ran a V3 at Worksop today in a leccy X1CR, it was totally awesome  |
Cool! Smooth as silk, aren't they