Yes its very fast and a lot cheaper. The 9L is for 14 cells. If you are running 12 cells you will want the 8L.
Feigao brushless motor 540 9L
Warrior 9918 Brushless Car Controller
I would suggest going with the BEC so you dont need to run a receiver pack and get the RC Monster Heatsink/Motor Clamp
External BEC/UBEC
RC-Monster Brushless Heatsink/clamp