So my Riptide motor stopped working last year and I took it apart and discovered it was filled with water. I cleaned up a bunch of parts and replaced some wires and it works now, but if I run it at full throttle the wires get so hot they start to smoke after about 5 minutes. I'm wondering if maybe the armature is bad and is placing excess load on the motor. Anyone have any ideas?

There wires you replaced are the ones that are smoking?

What type of wire did you replace it with?
If its of the wrong gauge/awg or crappy wire like CCA- copper clad aluminum you might want to redo it.

only use thin strand pure copper or tinned copper of the same size or larger when replacing wires. Tinned copper is preferred for marine applications.

I replaced the internal wires that run from the head down to the motor with wires purchased from minn kota's part site. The wires that are smoking are the original wires from the head unit to the plug. I also hear a rubbing sound when the motor is running that I don't think I heard before but can't be sure.

I would think the breaker should have blown before wires started smoking if equipped.If it was full of water I would figure the motor probably got some also.

The factory replacement wires are smoking..
That is not good. You may have a short or water inside the motor, may want to rebuild it.
Do you have an inline breaker installed? because if its drawing that much power to cause the wires to smoke your breaker maybe defective.

If the motor was under water, the bearings and armature are seizing up causing the armature to bind and draw excessive current.
AWG tinned marine wire is the correct wire for marine applications.

AWG is the ABYC accepablr wire for marine use, For a given size, it is capable of handling more current as it is 12-18% larger in size that SAE.

Might want to do a little reading.

You might want to do some re-reading because your reading comprehension needs some work. I'm fully aware of the differences. I specifically stated gauge/Awg. The / means AND or OR or EITHER. EITHER wire standard of the wrong size could cause the wires to smoke. He didn't specify what type of wire was used.

Thanks for the advice guys. I disassembled the motor again yesterday and the bearings are definitely bad. I could barely turn the armature. I'm going to order a new armature for good measure though along with the bearings and seals.