Makman94, That seems to have alleviated the problem for the most part. I am still "adjusting" as setting LOD factor to 15 did result in a fairly big FPS hit in very rough seas during daylight. Strangely this did not occur in the full 360 degree view with the camera but only when viewing in a certain direction? I'm guessing the big FPS drop at a certain view direction must be the result of the angle at which the waves are coming...but that's just a WAG.
Anywho...thanks!