I just post here a little test I did really fast. With a simple setup and default setting of SPH (fluid particles). I find the result interesting. Probably need more work to be usable ( like find a way to surface it ).
Here is a video (rendered in Opengl) of two different resolution:
315k particles (5hours to bake including dynamicpaint):
1.2 millions particles (75hours to bake including dynamicpaint):
1.2millions rendered with cycles: