I've recently open sourced something that I've been doing in my spare time / at uni over the past few years, which is GPU based fluid simulation (2D and 3D)
The code and binaries are available on the google code page if anyone is interested: http://code.google.com/p/fluidic/
Some old videos of it are on my youtube page: http://www.youtube.com/user/xwipeoutx85
Let me know what you think, and feel free to contribute
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. 3d pong, like it !!