Yes, the heightfield erode is good for localized close up terrain. I would be hesitant to use it on anything larger then a 2048 by 2048 sized terrain. Of course it depends on the user preferences and what the computer can handle. That being said procedural erosion has so many advantages over heightfield only erosion and being resolution independent means you are not limited to how far out you are or how close you can be. The smallest iterated details are well worth having for any terrain type.