This post by Ascensi inspired me to try figuring the concept of the demonstrated waves system.
If I figured it right the waves are generated by moving a rigid object under the soft cloth, which is a very cool idea.
With right texture and different physics settings it can produce neat result moving series of waves.

Basically a quad mesh plane made a soft cloth (pinned at the far end) is resting on the rigid cube stretched to a little over the size of the plane.
Then there is another rigid object (wave maker) stretched across the water quad plane. This object is animated to raise and then move from back to the front creating a moving wave.
As water cloth is *settled* a bit, a wave maker is moved to the back and is ready to generate another wave.

Here is quick concept demonstration (iClone video texture and some static displacement map is used for the quad mesh plane):

That looked very good I must say!



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That's a very creative solution, and it was surprisingly effective and convincing.
Thanks a lot for sharing..

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Thanks guys.
Here is an Iray render and iClone blueprint demo.
Suppose with better texture and more careful wave maker animation tweaking the outcome could be more convincing.



Another variation with a foam. Foam is made from a textured plane attached to wave maker.
Animated by scaling and varying texture tiles on a timeline.

great idea, very promising . Thank you Ascensi and 4u2ges , very inspiring


     

Thanx for revealing findings

As I spend quite a lot on assets, I decided to simply buy it and give it a try.
And the credits definitely belong to Ascensi for having this brilliant idea...

Here is my first result:



That's good enough for me to get some ocean in my movies...



Toystorylab on Vimeo :     Crassitudes (my "Alter Ego") on Youtube: 

Just a heads up, I managed to get a boat working with the waves @toystorylab   I will be updating the package soon with an example. 



After that i'll be working on stormy waves and the surfing type. Rivers will be another thing to try.

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Thank for the update folks. As I said, very cool idea with whole lot of potentials.
Hope you don't mind me revealing your secrets

It is a bit disheartening, as I spent days on getting everything correct Iray Material and then figuring all the particulars but in the end i know it's a cloth based effect and anyone could have done the same in the last couple years or might even examine all the details and tell others. So as I try to find the means to support myself I wonder if the time spent on figuring this stuff out for others is worth it. But the product still makes good for those that wouldn't know how to set things up and it comes with everything to save people the time and frustration to figure these things out for themselves.  Overall I see that it's good that you're showing people that I'm not selling snake oil
as some might of wondered. I've tuned everything in my project, but your off to a good start.  I was wondering for a bit why you didn't use the included realistic Iray Material from my package

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@Ascensi Time is of an essence in most production environments. And soft cloth physics is one of the most time consuming feature to deal with.
As you said not many people are willing to get under the hood for broken belt replacement. So I am sure you are going to sell lots of copies.

In other news ... As I dug deeper into this I found out that Iray does not really like displacement maps.
While iClone has no problem dealing with displacements, Iray would suffer greatly.
(Suppose there was a reason they put "Preview Tessellations and Displacements" check box there).

OK, so I went a little overboard with this. 80K tris for a foam plane and tiled displacement map for it.

The Iray initialization went from a few seconds to whooping 10 minutes... Wonder why??



Only after displacement map removal I got normal initialization and render times



I could probably draw the same with regular base color texture. But still wonder if it is NVIDIA, or iClone implementation deficiency.

UPDATE: The "Light hierarchy..." message gave me a clue... It is problem with lights.. not displacement. Or rather combination
I also have a Glow map for the foam plane. If I take glow map out and leave displacement in place I also get normal initialization times.

Glow map is considered a light source. And it looks like displacement map multiplies light sources for the mesh which otherwise should be just 1 (one).
And this is where 10 minutes delay is coming from. Definitely a bug and I would report it after more tests....