Thank you all for your comments...
em-man-u-el: I am thinking of putting up a text or maybe video tutorial of how you can achieve this in blender... I guess you are talking about the splash and not the ocean since these are two very different things...
In short, I imported proxy geometries of the objects in blender (separate scenes for the man/raft model and the dog).... I made a fluid domain and a fluid cube that exceeded the boundaries of the domain... this gives you a sea surface to work with... then you make the object you want an obstacle to the fluid properties and animate it going through the water like you would animate any object...
I dont remember the values for the fluid properties but i am sure i had a very high resolution fluid (took a day to calculate).... what you want to do now is change the behaviour of the fluid collisions, its resolution and the behaviour of the fluid domain (it all depends on what you want to achieve)...
After that you just click bake and when the calculation is over you can export and obj sequence to import to your favorite other 3d package (i followed this procedure
http://www.spinquad.com/forums/showthre ... ge=1&pp=15 to import into lw, but it should work similarly in other progs)
Hope this helps