Blender fluids test
Blender presented new capabilities including fluids at Siggraph 2006

The fluids in Blender are remarkably good and the simulation "bakes" very fast. The camera can then be moved or rendered from different angles. Blender also exports the dot.xsi format. I anticipate integrating this with XSI at a minimum.

Shown here is my first test.

Blender is open source software.
Above you can see a few artifacts but this can be fixed with higher bake resolutions. I have applied motion blur in post in this example.