There was a great article on FX Guide on Fluid Simulation recently. It's a computational issue that has been around for quite some time now and clearly it's something that the makers of big packages like Maya and Houdini cannot focus 100% of R&D time on.
There are a number of dedicated solutions on the market but we have taken a shine to the way Naiad (from Exotic Matter) is approaching the issues and the way they are closely developing what the industry needs based on pipelines rather than dictating the way the pipeline should work.
Of course there are more uses for fluid sim than just a typical water scene, as shown in some of the videos, so artists should consider these other possibilities when making some of their decisions.
So for now, whilst many of you may not have heard of Naiad, we think it might rise to the surface as the market leader and be deployed beyond the larger studios.
One to watch...