This is a scene I created from blendercookie tutorial. Fortunately, It gave some awesome results. It may help you learn the settings, the file is ready to give you nice result.
Make sure you have proper blender build with ocean modifier and Cycles render engine. And you are ready to go.
Thanks! I learn a lot from this blend file. :D
glad it helped you.
Thanks a lot.
too bad that it's not animated
Nope, but you need to unpack the files from external data menu. And sky will be there.