Hello Gunslinger, that approach should work. Similar to some of the processes I use. I think this might help you…
http://www.zbrushcentral.com/zbc/showthread.php?t=22300&page=1&pp=15
Taron does someting similar to what I’ve done for years with NURBS and that I’ve been exploring with SubD along with Displacement and Normal maps combined to geive greater detail at render time.Normal maps used to enhance and beautify the Displacement is new and does seem to offer a huge improvemnt.
For what I think you want, you will only get something decent if you combine the Displacement and Normal maps when rendering.