One use I have for it is to help move the camera around TER terrains.
1: Set the preview to the current render camera
2: Select the TER terrain that you want to position the camera on
3: Right click on the terrain preview and open in a new window
4: Use whatever controls you normally use to change the orientation of the view, click on the camera and move it around.
As you move the camera, you'll see the result in the preview window as well (if you don't, check step 1) Handy for moving long distances to a specific part of the terrain.
you don't necessarily have to make a use of every feature, but it's nice to have so many to choose from