That's right, Capu.
As I use it as a bump-map it is clear that you need a base-mesh with enough basic details, otherwise the bump-calculation of most apps cannot produce good enough results. And also, bump-mapping does not make a real deformation of the mesh like the displacement-feature.
But I think it's a very fast alternative to displacement, for stills as well as it should work with animations (there is no reason why it shouldn't work also with animations), and it is by far faster than displacement and gives very good results. And these results are also by far better than anything I could produce with usual normalmapping.