Tessellation water surface?

So, we have it! Tessellation technology. And question that is interested to many of us, I think.
How to “CryEngine like” water surface.

Any idea?

Some my thoughts:

We definitely needed Perlin noise. We have it. Also I have one my own.
Shader seems should be specular with Fresnel reflections and tessellation, of course.
And we need dinamyc mesh with topology LoD optimization. But seems like tesselation make it without us.

Also some additional generation algorithm to blend with Perlin noise…

There is some article about this issue.
http://www-evasion.imag.fr/Membres/Fabrice.Neyret/NaturalScenes/fluids/water/waves/fluids/waves/Jonathan/articlesCG/NV_OceanCS_Slides.pdf
It’s need time to deal, but looks usefull…