From westerner's forums, people usually run 1S lipo with higher turn motors (like 10.5 or 13.5). The main reason is because for lower turn motors, it requires a LOT of power from the battery. In single cell lipo, it may not be able to provide that power... causing the battery to fail.
Here is my understanding:
eg: 4.5R motor usually needs 450watts
Power = Voltage x Current ... so in this case Current = 450W / 3.7V = 121A
In order to provide ~ 120A, the lipo needs to be at least 5000mah@25C.
The problem of 2S is not the weight, but the size of lipo. If they can make 2S smaller with a high C and high mah, then it is much more flexible than 1S.
If you want to achieve the same/similar speed for 4NiMh+4.5R, it is better for you to try 2S lipo instead. Maybe 2S + 6.5R, you would have similar speed. For 1S, its very difficult to achieve similar speed.
Most people who try 1S is for stock or super stock racing, not MOD racing.