You shouldn't need to worry about points vs. size, TER files have a "meter point spacing" to take care of that, so as long as scale is set correctly in your generating application, it hsould work. TER files should have scaling info built-in, basically, and Terragen will properly load and respect any settings that your *source program* handles correctly (i.e. exports into the TER).
I recall in the past there were some vertical scaling issues with World Machine TER Files, I think, something like it displaced equally both up and down, rather than using 0 point as a baseline or something. Hopefully that's fixed now, but even if it's not it's a simple matter to rescale vertically with heightfield modifier.
Generally speaking I agree with Dune. *In theory*, if your source program creates a correctly formatted TER, you should have no problems at all. The only way to know for sure is to test it though.
- Oshyan