This is my first attempt at creating an image not based on a tutorial, so be kind please :D
It started off as an attempt at creating an image of Svalbard but ended up as just a snowy/icey landmass in the sea :P
Messed around with the Clouds and the Lighting and stuff just to see what kind of effects I could make.
(http://i26.tinypic.com/2ioz2x.jpg)
The water looks pretty good, and the iceberg/land is fine too. You might need a few more samples in the atmo to avoid the graininess.
Water's good. Is it frozen? I think that when the water and terrain meet, it's real sharp. You know water is a bit transparent :D. So maybe try making it a bit more transparent ;). Sorry if you think this is criticism. I think I like your clouds.