Making a copy of terrain for viewport representation is a good workaround, but my suggestion would be not to make a simple copy, but a reference object. That way if you will need to make adjustments to the terrain, the viewport copy will automatically gets updated and you won't need to make a new copy each time.
Another option is to use only one terrain object and utilize Max's modifiers display options, so your stack could look like this plane|CoronaDisplacementMod|turbosmooth(off in render)|displace(off in render). The downside of this method that if you'll use interactive render, your terrain will become flat in the viewports and also you can't use scatters on that terrain object, because Chaos scatter doesn't work with render time displacement. So yeah, you should probably stick to your old workflow, which is not bad at all :]