Kind of depends on your electronics. Some ESC's, Receivers and Servo's can run on lower voltage, but the ESC will normally take power over receiver and servo, which is not always good. Some ESC's or receivers will not run with out enough volts.

You can run a booster, but with the new software like Tekin's 203 the Novak will actually brown out when the power is pulled really hard to the motor. (actually the ESC has to re-boot) One of the other boosters will work, but they get pretty hot on oval and 10,5 in 1/12 scale. You can use a receiver pack, but if 2 cell lipo, you should use a regulator to not over drive the electronics, can burn them out. I've gone to a 2 cell LiFe pack which has the right volts, small in size and enough amps so you can run 2-3 8 min run with out issue.

Hope that helps.