It looks pretty good. There are still some weird things, like the heavy reflections when approaching the surface of water from below, major fish-eye of water when close to its surface from above, ghosting, and the usual minecraft bugs like chunks not loading, blocks having their textures in the wrong orientation, light-bleed for some light sources, etc.
There are no dynamic lights either, or the nice normal mapped puddles you get with Sonic Ether's mod.
That's not to say that it's bad, it's very good, out of all the Minecraft RT experiences I've tried, it has the best performance. It has some very nice textures in the pack. I am yet to play around with them - I am eager to, but I have a lot of projects on at the moment.
Anyway, the images: