nsclcctl,
1/700 ship models, if you want a good display that doesn't take up room, is a good way to go. The best kits in that scale that I've found are Tamiya or Revell Germany. As for aircraft, you would have to read the details on the box, as each kit has individual features. I do know that both mentioned include aircraft with their carriers.
"Waterline" refers to modeling the ship as it would appear sitting on the water, so you don't see rudders, screws, or the full keel. If doing dioramas, this is the way to go. If you want a full display of the entire ship, stick with non-waterline series. Most kits, though, offer the option of full or waterline. It's all a matter of personal preferance.
demono69