Nice idea, but the water reflection is too clear and rigid. It looks more like a mirror than water.

Hey Thanks. Your right I changed it. How's This!

I think gamemastertips is quite right. The reflection still looks too uniform and mechanical.

No, but I think it may be much better now. However, the frontmost section of the water looks quite odd...like it may have been distored a tad much. I'd also suggest making the water a bit murky, possibly by making a slightly transparent overlay blend of the original water texture. Not sure how this would look, but you could give it a try.

EDIT: I'd go with what blindscientist is saying.

The ripples are cool, but usually water ripples in response to motion of an object in the water - in this case the swans. The ripples shown tend to suggest that the motion might be coming from something else in the water somewhere out of the frame (perhaps a person or boat causing the waves). My only suggestion would be to smooth the ripples out a bit (soften them), and perhaps add small "ring" ripples emanating from each swan that is moving. Just a thought. Good luck!

My only suggestion would be to find a higher resolution source picture. When in full view you can really tell the source image is pixilated.