This picture is near the end of a water drops life. Using the stopshot and the water value I was able to get this shot. Below are the quick details.
D700, 105mmf2.8 Lens set to manual 2″ x f5???
The flash is bounced off of one of the sides of white poster board.
The water is in a large wine glass.
the water value is approximately 12 to 16″ above the rim of the wine glass.
The stopshot water value setting is 7ms, the delay to flash is 440ms.
I have a printed rose photo behind the wine glass, and a piece of green foam to the right.