While the terrain chunking method works well in many cases, it dosent currently allow for LOD of any kind. Of course for smaller terrains this not an issue, or where the view distance is not very far. However, for large and/or highly detailed terrains, some sort of LOD is needed, particularly where a far view distance (several hundred thousand units for instance)is used.
May I suggest a future implementation of something like
Geomipmapping , which is a simple and effective algorithm for patch-based LOD that is specifically designed for modern hardware?
Alternatively, there is the ClipMap method as well, though I personally find the geomipmapping method somewhat simpler and more intuitive.
As well as allowing for arbitrarily large and detailed heightmap-based terrain, this method can also be adapted for data streaming in the future.
I dont often make big suggestions for the renderer, but I think this is a good and well-considered request.