It would work though and be better than a texture pack. I mean who doesn't have $4000 laying around??
Cyrptic PvP is a really good resource pack imo. It runs smoothly for me (Good for pvp), yet it looks spectacular. If you want something else, I suggest John Smith Legacy.
I like intexity, it's a custom texture pack made from Faithful and a whole lot of other texture packs! ;D
I use Faithful and the Desteria pack. The Desteria one just changes the text so it's like rounder and smoother and it also makes the water lighter.
I love Using Faithful low fire 64x64 Its really nice and awesome! Especially if you are a pvper, I would recommend getting Low Fire.