I use R3D.Craft
It is an excellent texture pack. Everything looks better, and the weapons are really good for Minecraft. It has clear water, and it doesn't lag your game to much. It is the smoothest texture pack, and I haven't heard a bad review of it. It is good for P-v-P.
The texture pack hasn't been released for 1.7, but the 1.6.2 version of R3D.Craft is compatible with the newest version of Minecraft.
Trust me, ti's worth your time to look into this texture pack.