Hi FSGFX,
There were a bunch of things you need to do to get it to work. I think you need to set your ptex set up resolution level to be at least twice the resolution you have now. Then once exported in vray you have to set a bunch of options. For example, you use normal displacement, but you need to either use vector absolute or object (depending on how you exported the ptex) In ptex you need to turn off filtering entirely. Also you need to set the displacement bounds to -10/10, so there is no clipping then it will work correctly. See attached 
https://drive.google.com/open?id=0B-SjsIhPd0NHVlRYcXpPSmdaaWs
