With cataclysm release (plus DX11) they done a lot of upgrades to the water and for that moment it was 1 of the better water simulations in a game. especially waves as they did was something not done before in other games and they were praised for it.
But eventually time will catch up and so will technique. but it still looks and perhaps more importantly feels good to me.
Does the OP have DX11?
Or what kinda GPU do you have, never budget on a GPU if it's a gaming rig