I have Flight Water Pro for FS2002 (Daniel Ponce) and RealityXP clouds installed, which are both very good. The water has a textured, bumpy effect and although maybe a touch too light-blue, is far preferable to me than the default. The RealityXP clouds are better than the default also.

To make sure that you get the best frame rates, make sure that your cloud density in Settings is at around 60% rather than 100%. This makes a significant difference with FR but doesn't seem to make much visible difference.

No noticeable change at all. In fact I made the change on cloud density before I upgraded, so that the FPS was better than it was originally. Then, on installation of the new textures, I saw no difference in frame rate - I was getting around 14-15 FPS with both texture types.

Strangely, I get better frame rates with FS9!