I have this mesh with 7.5 million vertices:
And I also have a low poly version of it with 5 thousand vertices:
I just want to bake the detailed height information of the high poly model into a displacement map that I can use on the low poly model. Baking a normal map works just fine, but there is not option for baking actual height information:
I found out that I can enable "Experimental" feature set for Cycles and then I have a "Displacement" option under "Bake from Multires". But there is not option to bake from selected to active, what I need.
If this is not possible in Blender what are my options?
As suggested by Manu Järvinen I have tried using Blender 2.7 to do the displacement baking, but after baking is done I get a single-colored texture:
Initially I though this is an issue with the "Distance" but changing it does not help.