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Is there any advantage when using the Displacment Filter, in using a channel as the map instead of a black & white bitmap ?
Or is that technically the same ?

AFAIK this is the same. Using a channel could be a tad faster because even if your map layer is all greys, Gimp will compute some grey value from the RGB components, which it won't need to do with a channel. But this could be insignificant.

It can also be a layer in another image, provided it has the right size.

Cool, thanks !