I felt like converting a bunch of Source crap and made part of a HLDM map with it. I don't know if I'll actually finish it but I really like how it looks now. Cheggit.
The water looks amazing ingame. I know it doesn't show with the screenshot but there's 3 layers of water there, 2 func_conveyers and a func_water. Ingame it actually looks pretty close to Source water(minus the reflections of course).
PS: Woot for big empty areas.