This test scene is looking a lot more like what I had pictured in my head, there are still some tweaks needed to make the mist blend better with the water however I am really happy with how this is turning out. Eva gave me some great advice on creating a specular map for the water which really enhanced the scene. I think there is another level of complexity to add which will be the glistening of the water, but that will take some figuring out.
This whole exercise has been very useful for me to get better at compositing which is something that I have always neglected. I quickly realized that the compositing is what will sell the shot at the end of the day.