Ok, i got a cute wave effect, but i can't get the character distorsion right.
Here is the example, for anyone who wants to try.
The method is _DrawChar on bmpFont.cpp class, and the z rotation seems to be working ok.
Sorry about the huge .rar size...
I haven't looked at rez's code and yours but that's what I see in his glrez intro:
He is doing a full sine wave at the y-axis (normal sine-scroller effect) and is rotating on the z axis each char individually. As you can see in the text-passages each char is "waving" up (or down) till it reaches a limit, then he is doing a smaller z-rotation. Maybe he is simple triggering a function when the position of one char on the Y axis is reaching a value, and this function simple is rotating the char based on the "steps" the char has taken since the function has been triggered (that's how I would do it).
Maybe this is effects are obvious and I'm writing bullsh*t, but Rez is a master of design, and at this stage of his carreer (when the glrez intro was written) with openGL the effects are more nice tricks (like his blending orgies in some intros) but he is designing his stuff in a really nice perfect way.
Brgds (and post your results

)