how close are you going to get to the water? if you're at mid-far distance you wont need the ripples. I would just use hardware rendered particles comped over in 2d and then maybe hint at the ripples with a 2d effect probably.
bit more info please ![Wink user added image](images2/smilies/wink.png)
![Ninja user added image](images2/smilies/ninja.png)
Alan
Technical Director - Framestore
Currently working on: Your Highness
IMDB