June 30 Update
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I finally got the chance to really dig into Godot/Blender shaders, and redid the sword slash and water. The water's still missing depth fade, reflection and some scattered foam, but I think its a good start. Initially in Blender I used a moving voronoi texture, but I realized that baking a series of spritesheets for water was insane and not a good idea. So I figured out a solution that gives an approximate version of what I want using godot visual shader and textures. My system is fairly old and the gpu is a lower end oem one, but I didn't notice any frame drops that weren't already there, so I don't think it impacts performance too much. I still have to bake lightmaps for everything so the real time lighting is probably causing most frame drops. For the sword slash that was a valid choice (because its a relatively small texture and does not loop) and thats what I did, made the shader in Blender, then baked out a series of spritesheets for it, so there's no actual c...