Sorry for the necropost, but I just had to try this. Lands on the water like a dream as long as I keep the vertical velocity as low as possible (horizontal velocity doesn't seem to matter that much). Since there's no prop engines in stock I took one from the Karbonite mod. It's completely stock otherwise. Had to put in an extra reaction wheel to compensate for the offset center of thrust, but it's actually pretty maneuverable. Takes off beautifully at about 35 m/s, land or water. Got up to 58 m/s on the water before I ran into the shore. Always keep your eyes on the water in the front of you!
