Aside from looking like an idiot because I can't do simple arithmetic, I think it went okay. One thing I noticed after saving it was that I forgot to check the other two boxes on the Bump Map (Invert and Tile) But I think it looks okay. I'll also note here that with the large amounts of white in the image you can't easily keep the ripple layers with a layer mode of multiply. It darkens the image too much without adding that much to the effect, in my opinion. So that is why I only bump mapped.
My attempt to upload the video directly didn't work, so it's off to Youtube. Hmm, a total upload time of 58min? (Twiddles thumbs)
Sorry if it's a little long, but you should be able to do it after watching.
Cheers. And let me know if there is anything I can explain better.