Yes, when I said quick and dirty, I meant it. Fur is essentially a hair and for more realism should probably be made as such - a hair. But it's tough and require some experience.
For acceptable quality fur with displacement you indeed need to play with tessellation setting, brightness of the displacement channel and most important properly texture the mesh across the UV map.
Another quick and dirty, but this time I paid a little more attention to the UV map texturing:
I have enclosed a downloadable project so you may play with it. It is not really perfect as you may see.
The adjacent edges need to have the same brightness level and be smoothed to prevent an abrupt stitching and displacement.
I also left part of the UV map uncovered so you may see how it is done