The Lightwave interface. The open GL preview area in the centre can show many of Lightwave's effects such as fog and lens flares as well as showing good previews of textures. Obviously with every preview option active and a complex scene the display does slow down a bit.
Rather than one preview window you can have different layouts - a standard quad view or menu different variations.
Here is one of the 4 way views showing both top, left and right views as well as the main window showing the camera view.
Lens flares in the open GL screen. You can change the parameters of the lens flare in the lens properties box and watch the results on screen. You can even play and animation and watch the lens flare move, albeit not at full speed on the system we have used. Not all lens flare attributes can be previewed but a lot can, Very useful.
And another real time preview. Showing fog in the main window. The lights on the bridge are all lens flares and fog has also been added to the scene and previewed live. The scene does not render exactly like this but it is a very useful guide when setting the scene up. You can also easily change the display parameters and help speed up the refresh by just pressing the d key
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Rather than one preview window you can have different layouts - a standard quad view or menu different variations.
Here is one of the 4 way views showing both top, left and right views as well as the main window showing the camera view. 
Lens flares in the open GL screen. You can change the parameters of the lens flare in the lens properties box and watch the results on screen. You can even play and animation and watch the lens flare move, albeit not at full speed on the system we have used. Not all lens flare attributes can be previewed but a lot can, Very useful.
And another real time preview. Showing fog in the main window. The lights on the bridge are all lens flares and fog has also been added to the scene and previewed live. The scene does not render exactly like this but it is a very useful guide when setting the scene up. You can also easily change the display parameters and help speed up the refresh by just pressing the d key