So, the fact is that the 86lb trolling motor is probably a 1000 watt motor, since it requires a 50 amp breaker. 50 amps x 24 volts = 1200 watts.
So the motor is about 1.3 horsepower. Is it possible to get on a plane with that small amount of power, maybe, will it happen with a person and 100+ lbs of batteries, in a big fat dinghy, with a trolling prop, doubt it.
The propellor efficiency is horrible on trolling motors, the motors are inefficient brushed motors, so some of that power is wasted as heat. If you want your rib to get on a plane, gas or torqueedo are your options. The torqueedo cruise 2.0 is 2000 watts and as they state, equivalent to a 5 hp gas outboard.
http://www.torqeedo.com/us/en-us/technology-and-environment/performance-and-efficiency.html So the 86lb trolling motor, would equal 2.5hp, based on there comparison, but it is no where near as efficient as torqueedo. And torqueedo doesnt have all the battery weight either.
I would save your money and keep the small trolling motor. Your current 400 watt motor pushes you at 4 knots, the 1000 watt motor will probably get you to 5 knots.
If you do get it, i would be interested in your results.