I'm not sure what you mean when you say the converter is PWM. It just produces plain old DC 12V at a max of 30 amps, with 90% efficiency, and provides it to the EnduraMax PWM controller. The power isn't PWMed by anything other than the Minnekota controller. If I limit my end wattage to 250w using just the throttle alone it should be straightforward I think. 20Ahr of 48V lithium should be equivalent to maybe 150Ahr of lead acid AGM given the Peukert effect on the lead which would probably only put out 80 amphrs. I should be able to run that motor for days at only 5 amps coming from the lithium which is only .25C, which is transformed to 20 amps at 12 v out of the converter - my canoe should be able to do 3 knots at that wattage which is my target top speed. Its a displacement hull and will only do 5 knots max anyway, so it would take a stupendous amperage to get it over 4.5 knots. I hate to take apart a brand new motor like that - and I'm more excited by the sail rig anyway which will be awesome - just need to sort my leeboard/ex-snowboard

I might put a different prop on the motor too, later. See how it goes. I imagine your idea would work as well - either way I need to be careful not to suck too many amps with my throttle setting, as I understand it.
Thanks,
Chris.