Well I am an addicted surfer and kiteboarder and have been trying to capture the ocean in 3D for years.
I managed to put together some crude 3d models of waves a few years ago, but they are in .3ds format. I converted one to .obj in wings3D for a simple test render in TG2, but it still needs work as you can see. The models worked well in Bryce back in the day, but still needed postwork to get it just right.
Anyway, I've posted a zip file on my website of some of the waves here
http://www.moodflow.com/waves.zip . Feel free to download them.
If anyone wants to clean them up a bit, then convert them to .obj or even .tgo files and place them back here, that would be just fine as well. :-)