Thank you all for the responses. I'll try to respond to each here...
So it seems like the demythologizing aspect extends more than Genesis then. I figured there was some sort of myth or tradition circulating around that time which holds as to a god in the waters. The OT is just one big battle for the true God it seems like.
I'll look into Hesiod when I get the time.
What is interesting is the "spin" put on those very common Near Eastern mythologies within Genesis. Sometimes comparative "religion" can be helpful. And knowing a little about what the Hebrew were responding to in their own understanding of themselves and the origins of things gives one an interesting perspective. One of many.
That is why de-mythologizing them whether through literalism or "mere symbolism" robes them of their mythic power. Myths are complexly and finely wrought tales of the struggle of a people to understand themselves and how they relate to the order of things.
See I'm not interested in the similarities of things in Genesis versus other culture/beliefs/etc. While the Noah's Ark tradition found in many areas is fascinating, but it's the spin made in Genesis which makes it even better. If only the Genesis cosmology was better. Then again I love reading it as poetry.
A good place to start would be the Enûma Eliš, the famous Babylonian creation myth. In Babylonian cosmology, as well as OT cosmology, the earth was conceived of as flat, covered by a dome made of a substance often compared to metal (the Sumerians called it tin), over which a vast sea was fixed. That is why God "opened" the firmament to let the waters through in the great flood.
Was it you that posted a link about the ancients cosmology in association with Genesis? That article was extremely fascinating. But nevertheless a material compared to metal? That's something I've never heard of.
The sky-sea, personified by the serpent deity Tiamat, was envisioned as an ancient chaotic element that had to be conquered by Marduk, a storm god the babylonians inserted into the mesopotamian pantheon of gods as the new head god.
Thus, as Sakran said, the sea represents a primordial destructive force that is only held back by the cosmic and/or terrestrial forces who struggle to maintain it. In the case of the Hebrews, this God was eventually YHWH Elohim, rather than one of many fate-subordinate deities that were identified with or controlled a particular cosmic or terrestrial force.
So whenever the Leviathan is employed in Job it is more about demythologizing and YHWH being above these false gods. That's what I take away from this above.
For a basic introduction to some mesopotamian myths and practices, I recommend History Begins at Sumer: Thirty-Nine Firsts in Recorded History by the late Dr. Samuel Noah Kramer.
Thanks for the suggestion, however I raise another issue.
Let's go back to Christ for a moment. When we read ancient cosmology, as employed in Genesis, or these other mythic elements in the OT what exactly can we derive from these elements in the light of Christ? My understanding of the Orthodox position of the OT, and I am more than willing to be corrected on this, is that the entire OT is about Christ. I'm just trying to put the puzzle pieces together.