I have to say, the UV test grid looks surprisingly nice as a texture
-add eyes to the mesh
-move the beak of the squid to some more visible position
-maybe add some sculpting to the body/tentacles
-texture the body (i plan to use something like bark texture of a tree)
-model a submarine (i’ll try to make a model of the SSN-593 Thresher,
seems to be a relatively uncomplex ship http://en.wikipedia.org/wiki/USS_Thresher_(SSN-593) )
to replace the dummy present in the preview rendering
-add some Particles to the water
-play a bit with the lighting
Nice creature (and yes, the UV test grid has nice depth to it). The resolution of the texture (and maybe other detail) suggests that the thing is nowhere near large enough to be a threat to a submarine, however. This thing looks to me more like a ~1m sized creature with a submarine far, far in the distance (in which case the sub would not be so visibile). In any case, with the creature being the focus, you may want to look into making the beast really stand out in every way.
Two ways to resolve the depth problem. Include sub surface terrain features (rocks, sand hills, seaweed), or have the creature’s tentacles wrap around the sub. I like the second option better only because the tentacles are sort of short compared to the rest of the creature. Also this creature is suspended in the water like a fish. It seems odd in that most if not all sea creatures with shells (Sea turtles are the only exception I can think of) live on the sea floor.