This is great for real time though. It's using a form of SPH which is far easier to adapt for GPUs, and can crunch through those particle-particle interactions.
High end offline water sims would use a different algorithm (usually FLIP), maybe run for several days to sim a few seconds and occupy 10's of Gb of memory.
If anyone's interested, download a copy of Houdini Apprentice for free and have a play.
Here are slides from a presentation about Uncharted 3's water:
http://twvideo01.ubm-us.net/o1/vault/gdc2012/slides/1_Visual...
I believe they've talked elsewhere about the complexity of the water sims they did for areas that involved boats and an ocean you could swim through, but I don't have a link handy.