displacement is definitely a wonderful source of variable detail.  stonemason has some wonderful freebies that show off the power of displacement, as well as some products that do even more. and displacement is something that can benefit any type of figure or prop.  the thing to keep in mind with dynamic clothes is how much you allow them to stretch.  so if you decide, for example, to do all you seams in displacement rather than modeled, you might find that they do odd things in certain situations.