Scott, let me start by saying that is perhaps the sweetest Mag head I have ever seen!
What is the tube is going to be? Will it have a Mag side switch? If waterproof is a requirement, the Mag switch boot leaves much to be desired. If it's a custom tail switch, you'll need a bulkhead separating the cells from the converter area, which is probably near the head.
Waterproof will rule out a dimming pot, so you could go with a Shark/Remora, or one of George's boards from TaskLED. I'd probably go with a MaxFlex.
I've never built a Magmod with a tailswitch, so one of the experts will need to chime in on how that would work.
I recommend using Crees instead of Seouls, mainly for the ability to load the LED with reflector pressure and not risk damaging the dome. You can fit (4) McR19XR, or up to (7) McR17XR in the head. The latter would be a challenge to power off one board, and would require the head be bored. (5) or (6) McR17XR will fit without boring.
Using stars will add some height to the LED/reflector assembly. If the ledge inside your head is identical to a Mag head, a Cree star and McR17XR at the level of the ledge will sit a bit above the end of the head. In a standard Mag build, I try to keep the reflector just slightly (0.010") above the rim so that the bezel seats fully against the head. But since you are custom making the bezel, you can make it deeper so it still meets the head regardless of the height of the reflector.
The Shoppe is out of PXR19-D, but I have some that have been faced flat. These are left over from my Moby **** heatsinks when they were originally 2-piece construction. PM me if you need one.
With the flat PXR19 threaded into the head flush with the ledge, the height will be about right for Cree stars and McR17XRs. But you might add a disc on top of the PXR19 to make the LED mounting surface uniform. I did this in my
Quinta mod, and using emitters the height worked out perfect.
The ideal number of LEDs and the cell solution are dependent. If it's 7.4V, I'd go quad McR19XR. If it's 11.1 V, a (5) X McR17XR is a nice choice.
I hope you find some useful info in all this, and it gives you a start.