Ive put together a bit of code that may be useful to people.
It allows you to create massive areas of moving water with huge vertex counts, without the need for realtime pulling of the vertices (because as i recently discovered (to my big design horror)is slow). Based on a rendering idea by Rob Cummings. I cannot waste anymore time on it but anyone who makes it better, let me know as im at 'that' stage in my project.
Latest:----------------------------------------------------
While working on the TED demos, i decided to blow the cobwebs off this and have a new play around.
Ive changed the interface slightly to allow for things like fog and cameraranges.
Also, any object to be cubemapped (not only flat objects) by using an addreflection function.
Also i noticed if i turned on the zbuffer & background clearing it seemed to help with some(not all) of the underwater inverting. But i cannot remember if i did this on the original, as ive played with it so many times.
It seems to work fine now with terrains (there may be a little bit of disruprion here and there but is within tollerances.. well mine anyway :)
There is also a cubemapexclusion list function where you can put all entitys that need to be hidden when entering the water below a certain depth. It seems to be working ok in my own tests.
You can get the modified version from www.d-grafix.com/softwareted.html
and click on the downloads section > island demo