Good question. There are a few things that need to be considered when searching for the appropriate motor for a "direct to diff" conversion.
-overall RPM of the outrunner (kv x voltage)
-size of the motor (too small, and it will over heat, too large and it will be too heavy and require too much space)
-cost of motor
-whether or not it's rebuildable, since it pretty much needs to be
-if the shaft isn't the right diameter, would you be able to turn it down to the appropriate diameter?
-will this be used off-road? I don't think outrunners like dust/dirt, so an enclosure or shroud or something might be in order
That said, I'm the only person on this forum (so far) who has converted the MT2 with "direct to diff". Others have converted similar trucks (like the LS10), so their opinions would also be valuable.
This is the motor in my MT2:
http://www.hobbypeople.net/gallery/108521.asp
It's a big 'un, but I chose it since it would have enough power to get the truck up to 70mph and beyond with the appropriate voltage. The maximum voltage I have run through it is 10s A123, which produced a RPM that was too much for the truck (it took flight at ~60mph, and there was more throttle left). On 4s A123, it wasn't quite fast enough, but on 6s A123 it was pretty much perfect.
Since you didn't state what voltage you will run, I have come up with an example I think is suitable. On 3s Lipo, with regular 4" tall tires you will want a motor with a kv of about 900 to achieve 40mph. On 4s with the same speed and tires, the motor will only need to have 700 RPM/volt.
With 4s and the above-mentioned info., this motor should be more than enough:
http://www.hobbypeople.net/gallery/108520.asp
I use the KMS brand of outrunners myself (have 3 of them) since they are sold at the LHS I work at, and they're cheap in general, without seemingly-poor quality.