I've done some testing with outrunners in my CRT.5 and the best ESC for outrunners is the Sidewinder. I was using a Kontronik Jazz 80, a Quark Competition 80 and a MM before but no one is as smooth as my Sidewinder. I'm running it on 4s with UBEC, has anyone already tried 5s? I would love to put it in my HB Lightning Buggy on 5S.
Here is a small vid, as you can see it allows my to do drive so smooth and slow with a total ratio of 3,25
http://www.youtube.com/watch?v=FkAd3LFKwgU
I think the greatest advantage of an outrunner conversion is the possibility to save much weight, the RTR weight of my CRT.5 with Jato Wheels is only 4.1lbs. I've got runtimes of 15min-20min and this with a 2000mah 4s Zippy lipo and it's wheeling all the time.
It would be great if anyone could do some outrunner testing with the MMM, lets hope that it has the same software as the sidewinder. I think in your case, 5s or 6s are the way to go. I am using a KD36-8XL in my .5, you could have a look at the larger ones that HC has in stock. I was using a Turnigy 500kv Outrunner in my 8S Revo, it was also working very nice together with a Jazz 55-10-32 ESC.