[Alan Roehrich]

A two step won't cause thrust bearing failures. Thrust failures are caused by lubrication failures, or pressure from either the clutch or the torque converter.

I do not like using a rev limiter in the water, I figure if I can't control the RPM there, I need to quit.

A rev limiter would most likely cause a crank to break at the 1-2 rod throw, or the 7-8 rod throw, since it will cause torsional shock due to the misfires. In near 30 years, I've never seen a crank failure I could say was caused by a rev limiter.