Safety aside, a 10 ah 72v pingbattery is only going to be good for about 15 amps. So 1200w is not going to be getting you going fast, very fast. To even run a 72v 20 amp controller, you'll need at least 36v 15 ah pings in series. Plus you will run into a wall of wind at some point that limits your speed. 1200w is simply not going to get you to the full potential speed of 72v, per the laws of physics. The wind resistance is going to require more watts.
So you go buy a 40 amp controller. Now you really are looking at needing a huge ping, like a pair of 30 ah 36v batteries. The upside to that plan is you will have plenty of range to melt your motor trying to haul ass further than a motor designed for 1000w will go.
There is battery range, that you can calculate. Motor range, at high speed, is harder to estimate since weather conditions affect it, as well as how mismacthed your controller and motor is. My rule of thumb for range, after melting more than one motor is that carrying much more than 1000 wh of battery, if you are offering 3000w potential or more to the motor is sketchy. Your battery may last longer than the motor.
I'm not saying a 72v 20 amp controller is a poor plan. It is. Just be aware that you will see 3-5 mph less speed than a 40 amp controller would. With a pair of 15 ah pings, you'd have a decent range bike, with about 1500 max amps. That is not so likely to overheat, compared to a 2500-3000 w setup. It won't zip off the line like a 3000w bike, and may not reach 40 mph, but it will still ride nicer in my opinion than a 48v 20 amp setup. Nothing wrong with 48v 20 amps, if 30 mph is more like your goal for top speed.
Range on the 48v 20 ah battery at 33 mph? I will guestimate 15 miles at least, but not 20. I really haven't riddent that speed enough to have good range experience for that speed in all real world conditions. But I'm pretty sure you'd get at least that 15 miles. That means you really only have 12 miles of daily range, if you want to make your batteries happy.