Hi Dwayne,
I have run many .40 size power packages, and my favourite motor is the Arrowind/E-Max 2820 with a 40 amp esc. The battery is a 4-cell 2200 mAh Lipo. For a 5:30 flight my 43 oz. Protron uses around 1400 mAh up at our high altitude and around 1800 mAh at sea level. The prop is the standard APC 11 x 5,5 E, and I use my own governor timer system to keep the rpm constant. The motor runs so cool that I sometimes think that I should use a bigger prop, but it just works so well as it is. There's nothing wrong with "cool!"
The battery use is dependant on how you set up your flight. It only takes 5 minutes or less to complete the full pattern when you fly at a constant rpm, so the level laps go faster. At a constant rpm, like when you use a governor system, then you tend to use a steady predictable amount of power. As the others have stated, you need to use a battery pack that gives you one good flight with an edge to keep the battery happy as well. These days the Lipos can be charged a lot faster, but then you need a more potent charger that can supply many more watts. The standard ~40 minute charge is fine if you have a few batteries, and prices are pretty good right now..........and will get better still!
Keith R