What is the best looking water that you can get with Indie? Or is there some extensions or techniques that can be used for improving the basic water?
This is where I stand now with my water texture:
There are lots of different techniques that you can use in Unity Free to make the water look better. It depends on what you need. You can modify the simple water shader to use additional effects, for example.
I’ll link my attempt to modify the water shader to incorporate transparency, specular highlights and bump-mapped cubemap reflections.
http://forum.unity3d.com/threads/84886-Opaque-Alpha-in-a-transparent-surface-shader-(for-Water)
You could use this code on the built-in simple water prefab. Here I’m using the bumpmap that came with the standard simple water shader.
There’s aways Easy Water 
theres also ‘fake water’ : )
(but it would require cleaning up / fixing / optimizing the shader from the current version…and its using special mesh in this version…)
