Take a look at the demo scenes included with Vue - there are some very nice water textures.  

The hard part about water is not only the material, but the lighting and camera angle all play a part in how it looks, so what is great in one picture can be just OK in another.  By "taking apart" the demo scenes, you can see what settings are used.  Change things around and see what happens - great learning experience!

LVS - Where Learning is Fun!  
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