Agreed Wolf. Buggies and lighter weight 2wd vehicles don't need the same power as the bigger, heavier 4wd monster trucks and such. I don't know a lot about electronics and how all those volts, watts, amps play together, so I basically look at the ESC manufacturer's recommended uses their ESC's are good for, as they know better than I do. A lot of times, like Castle stuff, they will tell you what weight and type vehicle their ESC's are good with (buggy, truggy, 2wd, 4wd, etc). I always start here.
As
@Greywolf74 said, I will usually go for a little overkill on the ESC if I can because an ESC able to handle more load than you will be pulling out of it is better than one that will struggle to supply enough current to the motor and overheat.
From there, most kits will give you a suggested motor to use. Based on that I shop for a motor in that ballpark. I also rely on videos of the kit I am working with to see how the vehicle runs, paying attention to any gearing they have tried, tires, etc, just to help narrow down on some of the guesswork if possible. Basically, I try to do some research before I drop any money.
I may even send the manufacturer an email asking their suggestions for a particular kit. Again, they generally will know better than I do what their motors will do in specific type vehicles. I make sure to give them the vehicle's scale, drivetrain, weight, and what I want out of it when I do to eliminate all the initial back and forth questions.
From there, it's all about gearing it to keep the heat below 160°F and get it running as fast as possible.
That's my routine anyway.