It is my humble opinion that the quality of the water will determine the percieved quality of the model. A mediocre model on a top water base will look top, a top model on a mediocre water base will look mediocre. Since I suck at bases, I will not try waterline for that reason firstly, but secondly I do prefer all of the ship being visible: stabilisers, rudders, propellers, sonar domes. So, full hull all the way for me