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One thing that I have found works well for waves in liquids are bumps in stead of ripples or actual waves.  The bumps work well for smallish surfaces (ie swimming pools and the like), while waves work well for ocean type scenes.
Very impressive dolphins as well.  I tried my hand a making dolphins about 2 years ago and didn't have near as much success as you did.

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The surf board could have used some anti-aliasing.  The pixels are too visible.
Also, it would have been good to put some other objects underwater (maybe some
rocks made with height fields, or shells scattered on a sand background) in
order to give a better illusion of depth.  I like the dolphins.

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Pretty good dolphins and nice shadows, but the water's surface and the human
toys are very flat and artificial-looking. Nice idea, though.

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Interesting idea, but the image doesn't match up. The bubble is too perfect, and
the perspective of water/air interface doesn't look right.
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Surreal

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Excellent concept.  I read the article!  The bubble ring is a bit too regular,
and the nearest dolphin's nose is too square.  Also, I think the exact surface
of the water is the wrong place for the viewpoint (if that's where it is).
Great scene and concept.

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dolphins need eyes! Also, more AA on beach toys

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The dolphin model is very good - in fact, I am amazed that it is 4 patches
(the mouth area, in particular, looks like it should take more control points 
than are present in a single patch to get the opening). On the other hand, more
features would be nice, such as eyes and a blowhole.  THe surface of the water
is also not aparent, looks like it is not reflective or not reflective enough.


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I like the dolphins


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The underwater view is original, but somewhat dull.  The dolphins need more detail (eyes)


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Not polished...

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Bezier dolphins? Hmmm... neat.

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nice dolphins

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imprecisse water level