My 10 Cents...
I respect and admire that someones going for a more realistic for style. Personally, I'm ticked that nintendo didnt take the direction SmashBros did when gamecube first came out and i'll remain ticked probly til the end of time for this same reason.
about the water texture, it's easily found on google, type in "water texture"
and it's sure to pop up. Rockstar is actually quite known about, at least in the GTA Modding community, for using this or similar methods for thier textures. on the GTA Forums, there was a rather large discussion about some building textures and grass textures from San Andreas that had been found on Google when Vice City was new.
On another note, I swear i recognized a couple SSBM textures in there myself [mojo's] XD
I think this is a cool project, and though I really dont make use of highres textures, Ill check around for screenshots...