Sharky, here's the one I used the Vue exr for as both the background image and the light source, IBL wise.

I pulled the gain down a bit to .85 in Lux and fiddled with the camera settings to even it out. 320 for the speed equivalent, 1 for exposure duration, and the 'light meter' value of 4. (In the Linear tonemapper values)

I ended up using a water prop set (Rubicon's Ocean 2) with standard glass rather than 'water' with the water IOR and gave it the beans for subdivision. .80 opacity helped reveal some of the underwater detail but .75 ended up being better in a later test (this image has the former rather than the latter value)

In case anyone is curious, I used the glass to keep the form of the water prop intact, as the water plane made it level all the way to the horizon. That, and the top surface looked sweet with the deformation ripples ;-) 

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