So if you have a timer that guards against overload from the prop stopping that "might" save everything else. Sounds like that's not the place to skimp.
Ironically, that's the Kieth Renicle timer, which he specifically designed for use with cheap ESC's!
Are there wiring diagrams that show how everything connects?
Yes, numerous ones. Especially if you keep in mind that the function of the timer is to pretend to be a receiver -- if you find a wiring diagram of an RC system and mentally throw away any servos and replace the receiver with the timer -- you're there.
Try searching on "wiring diagram" here. I know I've seen good posts.
How about the functions of the timer and ESC respectively. Sorry if this sounds basic but everyone talks like everyone else knows what they are taking about and much of it is Slavic to me
We were all born knowing this stuff, Bill. Really. Honest.
(Lest you believe too hard if I give you misinformation, be warned that I fly electric RC, and for my day job I have designed motor control circuit boards -- but I'm too cheap to fly electric CL. So I have no personal experience with timers, but a reasonable amount with ESCs and motors -- and I'm qualified to design you your very own ESC if you have a year's wages lying around collecting dust)
In brief:
"ESC" stands for "electronic speed control". The ones we use are universally designed for radio control electric planes. The ESC connects to three things: the motor, the timer (which it thinks is a receiver) and the battery. It contains a circuit that powers the timer, and all the magic to make a brushless motor work.
The timer, as mentioned, is pretending to be a receiver. It connects to the ESC, and it has at least a "start" button (different timers have different arrangements -- all the ones I know of have a start button, or a connection for you to attach a remote start button). When it powers up it sends a "low throttle" signal to the ESC. When you push the start button the timer ramps up the throttle command to the ESC, holds the motor at high speed for a preset time (which you can set -- different timers have different was to set this), then ramps the speed down again.
This is where it gets confusing. Different timers do the speed command stuff differently: Will Hubin makes several different timers, all of which work "open loop", in that they just issue commands on a timed schedule. Keith Renicle makes a timer that monitors the signal to the motor, figures out its speed, and adjusts the command to the ESC -- this is a closed-loop governor. Igor Burger makes some pretty high-zoot systems that I'm not too familiar with (I thought I was, but the last time I said something about them I was wrong -- ask Igor).
There's a bunch of complication with the Hubin timers and ESC governing modes. The short story is that there are high-zoot ESCs that include governors (similar in theory, but theoretically better than the one that Keith Renicle implements). Some of the Hubin timers (and Igor's -- I think. Ask Igor.) are designed to work with a regulating ESC -- you can tell the timer what throttle command to send, and it just holds the command steady. The ESC then governs the speed.
What I've just written is my own digest of information derived from flying electric RC and (especially for the timer stuff) reading posts here. There's lots of information in here if you're willing to read all the posts, and then you'll be getting the timer stuff first hand.