A panel I created a while back based on the work by Michalis [http://blenderartists.org/forum/showthread.php?273033-Sculpting-with-UVs-and-displacements&highlight=displacement+uvs] and a tutorial by Oliver Villar [http://www.blendtuts.com/displacement_uvs_sculpt] covering the techniques used.
Thank you, flakjakk. I know this technique of Oliver Villar and Michalis. For SF things it is very useful.