OK - I'll start... I don't have many (I'm still learning, even tho' I've had Bryce for ages), but..

The aboveis something I read about recently, so of course it's currently my favourite:-)

To create Waves:
What I did was load a terrain then edit it. In the editor I hit "new" to delete the default terrain, then used the elevation brush to create some roughly vertical rows (by "vertical" I mean as viewed in the editor, not in the 3D sebse).
They were deliberately slighly wavy (no pun intended).
I increased the terrain resolution to 512 (I think - may have been 1024).
Applied a bit of erosion.
Smoothed and decreased height.

Out of the terrain editor and in the main view, I selected the terrain, rotated it in Z (looking from the front) to approx 15-20 degrees, then squished it in Y and finally rotated back in Z to be level again.
(I think this is known as "skewing". It took me a couple of goes to get the amount of rotate and squish more-or-less right)

Then I stretched the terrain in X & Z.

Into the Materials Lab and added Foamy Seawater, twiddled it a bit in the DTE, and edited it to a larger size (to make the texture smaller...)

The above was the result.

Not great and I wouldn't publish it as anything except a "sort-of how-to", but it's a start..:-)

Cheers,
Diolma

Feel free to crit, add suggestions, post any other tips/tricks not even related to waves...:-))