Schooner Yacht Coronet

Coming along!

A recommendation, though: don’t use fluid sim for the water!
It will take forever, and probably look pretty fake unless you have a very high resolution – in which case it will take even longer.
Use the textures approach. Procedurals work very well, and cause no tiling problems.

www.cogfilms.com for a very detailed tutorial.

for the water, if its calm, you could just have a high poly plane, with a clouds texture, and set it as a displacement map?

Goodness, I need to work on this more!
Expect an update soon!