I'd have to agree to completely disagree with you Hetzen on all counts, sorry if I misunderstand what you say but from what it sounds like, how I am interpreting what your saying, your info just doesn't ring true to my experience
Every obj I export represents the terrain 1 to 1, hence why the high rez output. What I see in TG is what I get as obj.
I never get the holes you speak of. Even on really vertical parts I still get polys, not sure what the "holes" issue is maybe upload a tgd.
Exporting Heightfields I reserve for moving to WM. As final output they don't give me as much detail as obj.
Try lowering your resolution to something like 128 x 128 pixels but up the quality to say 5 and move a top down camera to an altitude above your terrain. You'll get a high resolution mesh, which I have found is faster than baking HF when trying to match quality.
With Texturing, I re-project my renders. When you say blend or avoid smearing I assume you are referring to the projection stretching which is common when projecting from a static camera. This is solved by rendering out a sequence, re-project and paint masks. This will get you 90 to 95% of the way there then of course you need a bit of manual painting for the final look development. Basically consider your TG procedural shaders (RGB) more as masks rather than finsihed textures.
Not sure how other users "clean" geometry post TG, I know obj verts are un-welded which can take ages to weld in say maya.
So I use Zbrush, and retopo instad of fix, its really fast. I get all the detail and have the tools to generate a clean subdivided mesh as well as split the geo into managable sections depending on what app the final render will take place.
As far as optimizing scenes, once I have my clean mesh I then can decide at render time which sections receive more or less subdivision and disp quality. This has worked so far with Mantra, Vray, and Clarisse. All of which handle larger terrains differently.
One thing however that is really tricky to replicate in other renders is the outstanding quality of a TG render, and its atmosphere.
Sorry for the epic sized post, but I hope it clears things up.