Had an extensive beta play with “Janbo”‘s terrain shader from his shaderpack over at TGC / AGK. It needs some polish, but the terrain shader works well.
For the content (heightmap, splatmap, plantmap, trees) i used:
http://www.evolved-software.com/treeit/treeit
http://www.bundysoft.com/L3DT/
Other stuff like rocks, gras and textures are made by me in 3ds Max and several GFX programs.


