Relating to a lot of water, I see (7)
I believe the answer is:
oceanic
'relating to a lot' is the definition.
I can't judge whether this definition defines the answer.
'water i see' is the wordplay.
'water' becomes 'ocean' (ocean is a kind of water).
'see' becomes 'c' (the word for the letter, according to Chambers).
'ocean'+'i'+'c'='OCEANIC'
'of' acts as a link.
Can you help me to learn more?
(Other definitions for oceanic that I've seen before include "Pertaining to the sea" , "Relating to large areas of sea" , "Relating to the open seas" , "Of the open sea" , "vast waves?" .)