Great elephant indeed. Cycles or BI?
Do as Psycotik2002 suggests. Subdivide after duplication a lot ~2-8M points or something.
In project palette, you’ll find it under subtools palette.
Use as “dist” a 0.2 value instead of the 0.02 default one.
Say yes when ZB prompts you to capture polypaint. (you need lot of subdivisions to capture it, as suggested)
Before subdividing, you could use UV master to UV the base mesh. It’s a tricky procedure.
But, you’re a blender user. So, why don’t you export the retopo mesh, do UVs there (better control, loop cuts) and re-import it in zbrush first? After all, you’re talking about Qremesher auto topology. For manual topology, which is far the best, do it in blender.