Ok so here’s my final piece,
lol
http://www.solo2design.com/movies/Lindsay_Kerr_FXwar(320x240).mov
First off this FX War has been a great fun, I hope more people will take part in future.
Everything in this animation was created with freeware.
Creating the ocean waves
The ocean was created by subdividing a plane and applying soft body physics to it. I then created four elongated objects to pass in and out of the plane, each one slightly offset form the other so that they would hit the plane at different times to generate the wave effect.

Creating the surf
Created a number of particle emitters which emits cubes. These emitters where then animated along a path. Then the particles where rendered separately from the scene so that a motion blur could be applied to it.

The whales Splash
Unfortunately the spray effect isn’t as good as in the beginning due to the fact that blender crashed after every second frame was rendered (blender seems to have a problem with object particles and the alpha settings for the particles), before I had used cubes but now I’m using the default halos, no Blender crashing but the quality is lacking (actually it really awful :argh: ).
Modeled a tuna for the whale to chase.

Putting things together
Mostly all the elements where combined in blender, although colour correction and some blurring was done with Jahshaka(limited if you are a Windows user) which only allowed me to render out the animation to bmp files that then had be converted back into mov file with blender.
Sound
Searched the net for free wave sound effects, got a few and combined using Audacity.
I’m now seriously considering Linux, Blender lacks the ability to combine sound with animation files(unless you have that new Linux build that allows you to do so), anyway strangely I’ve found a work around using three programs firstly combine animation and sound using windows movie maker to a wmv file, then using MediaCoder changed it to an avi file, then using Super Fever 1.7(does not read wma files correctly and does not seem to change the dimensions) converted it mov file.
Other than that I would say I have spent about 96hrs(not sure, guessing) on this
Average frame was well under 1min to render.
:D… I’m off to do something else.