river tool

My idea is following. Select area, specify duration and strength of the rain and it would automatically carve rivers and streams into height map + provide mask for texturing river/stream basin. Would be possible to do something like this with existing tools? I was thinking to use flow map somehow, but this is not exactly it…

Profantasy’s Fractal Terrains has such a feature.
https://secure.profantasy.com/products/ft.asp