Some of the objects used in the scene

Caustics on the sand 

Grass that moves in the wind

A modified version of this material for the water

http://www.youtube.com/watch?v=zggG0wCD7yw&feature=related

Textures used in the scene

Added underwater grasses

Caustics on the underwater sand material

Ship progress

new lamp post model

new parts to the scene

Almost done with the galleon, then it's on to the buildings.  I have already started pulling pieces from the galleon for building parts.

Lamp post asset

Baked down ladder to texture.  ~6600 triangles down to 12

Took the highpoly railing and baked it down into a texture.  ~6000 triangles down to 2

The helm of the ship