After trying to shoot the waves for about an hour, I decided to take the long exposure approach. Using a 15-stop ND and a 8-minute exposure, I ended up with this image. I like the drama and simplicity all in one.
While I think that the use of the ND filter and long exposure has captured some very nice details of the cliffs and sky, I believe the unnatural smoothness of the water takes away some points. Just my 2 cents worth.