Hi pupparo!
Man, I hate to rain on your parade, but Elmers aint gonna work...why? Because it dries flat, or with a "matte" finish.
For representing water, you want something that will dry with a "gloss" finish. Yoyu want it to be shiny, so it will actualy look "wet".
There are many different materials that will give you this "wet" look...varnishes, epoxies, clear silicone caulk, & now Woodland Scenics has a whole line of "Water Effects". (you mentioned EZ Water...I believe these are the little plastic pellets that you melt...I would advise anyone to avoud these...I tried them...they were a nightmare!

)
What I've discovered that I really DO like is Liquitex Gloss Medium...(you can find this in stores that carry artists' supplies)...
This is an acrylic varnish, that you brush on one coat at a time, as many coats as you like...It does cost about $15 a bottle, but a bottle goes a long way, especially if you're modeling in N scale.