Waters are tactical and need many support cards, the greatest combo found is:
ALO... Amphibious Bugroth MK-3... Gravity Bind...Level Limit - Area B... Field Barrier... Many cards that stops amphibious BugrothMK-3 and ALO being destroyed. Hope this helps :).

problem with bugroth is that unlike most monsters, he permits your opponent to establish more field presence and control. He is ok as a one-of in a grizzly toolbox, but not as a dedicated player.

I am also super glad about Water Post Ban. Only thing. Breaker. He kinda screws ALO with his effect, but whatever. There is more good than bad on the new banlist for us Ocean Dwellers. My favorite Water Deck right now is Levia - ALO - Boom. Thats the deck Im currently focusing on. Rock on Water Players. Rock On.

I am looking forward to Mis-Revive in Gladiator's Assault. 10-1 you are thinking "WHY?!?" Well, here, i can provide the answer. Fenrir, or Aquarian Alessa, anyone?

Well I havent seen it discussed much yet so I'll throw it out there. The new Gladiator's assuault cards. Yum. :p

GLAS-EN084
Dragon Ice
WATER / Dragon / 5 / 1800 / 2200
When your opponent Special Summons a monster, you can discard 1 card to Special Summon this card from your hand or Graveyard. There can only be 1 "Dragon Ice" on the field at once.

GLAS-EN086
Skreech
WATER / Reptile / 4 / 1500 / 400
When this card is destroyed by battle, select 2 WATER monsters from your Deck and send them to the Graveyard.

Now first of all, Skreech makes me happy in my pants. There are so many uses for it. Treeborn Frog, Fenrir Fodder, Tadpole's for Des Frogging. And Im surre many more uses. Dragon Ice is kinda Like Baboon, but collier because....well......Its Water. Ooh, Skreech to get it in grave and wait for your opponent to special summon. :D Discuss please.

Those and Deep divers give water decks awesome support. Damn they get so much stuff! Skreech is mother searchable and is awesome to combo with reviving, Salvage, or PoA.

Skreech is far better a target for Mother Grizzly in a frog deck than Tadpole. IF being attacked, and already through some MGs, you will lose a bit of life rather than a good deal due to Tadpole's zip attack. As to other Skreech effects? It combos better than Foolish burial in water decks; Skreech+Salvage=search your deck for any 2 water monsters with 1500 or less attack and add them to hand.

EDIT: Bleah, Ghost snuck up under me!

That's why I am called Ghost, cuz I am sneaky like that.

Yeah, you snuck up under me too on the deck contest! lol my 2nd to your 1st.

Lol, well, thunder is good against water types. :D

Well I like to run water decks but I focused mine on the normal monster beatdown. It runs pretty good and fast most of the time. Its just a fun deck to play. Some of the key cards I use are in a normal ALO beatdown deck. Here are a few cards that I have included in mine.

Frostosaurus
Lv 6 2600/1700

Spiral Serpent
Lv 8 2900/2900

Ancient Rules
Normal Spell
Special Summon 1 Level 5 or Higher Normal Monster from your hand

Summoner's Art
Normal Spell
Add 1 Level 5 or Higher Normal Monster from your deck to your hand.

***NEW in GLAS***
Swing of Memories
Normal Spell
Special Summon 1 Normal Monster from your Graveyard. The Special Summoned monster is deatroyed during the end pahse of this turn.

Of course you can use Dark Factory to bring these back to your hand also so just alot of fun all around.

Crash

For a normal water deck, surprised you aren't going the Advanced Ritual->Crab Turtle route.

Okay guys. New idea. Since the Advent of Raiza (cough), and the rise of PWWB in popularity, what are the chances of Serpentine Princess getting its effect off these days?

Probably extremely low. I mean, how many 3-star-and-below monsters do WATER decks normally run? And not to mention, if it DOES get Raiza'd/PWWB'd, now you've got a 3-star puny protecting you from a direct attack... I'd rather have Princess' DEF. Even Grand Mole doesn't protect you for long, and it could be wide open for removal.

Of course, that's assuming your opponent DOES hit Princess with a spin card. If your opponent knows that you have Princess, they're probably NOT going to use Raiza or PWWB on it.

O.K. I will give you my little stratigity;)
Make a water deck with all LV4 or lower monsters. Also have "A Legendary Ocean" It lowers water monster's LV and increses there atk. Every point counts. Also have some cards to power up your monsters so you can hit him hard.
Have gravity bindX3 area limit LV4X3. Obviosly Your Opponent will try to take you out as quick as possible with High attack power and high LV Monsters like Super Conducter Tyrano
(3300 atk 1400 def)
If you stop him from attacking and you hit him with little atk all that dammage will add up. :D So try that, If that dosen't work Write Back to then I will give you my deck list
T- Rex