Tilt,
if you're referring to Ogre's
Mapmaker, there's no easy way to adjust the overall elevation/exaggeration of the altitudes - you're working on a point-by-point basis.
the best way is to take your greyscale elevation map and use AKwabbit's
bmp2map utility.
a tip for adjusting elevations in bmp2map: remember that the greyscale image effectively has 256 levels of grey - from 0 (black) to 255 (white).
so when you adjust the max alt, you are setting the alt of the 255-level (white) pixels.
say you have a valley floor that is shaded at level 72 on your greyscale image (index 72, or the equivalent of RGB 72,72,72). you are playing with the max alt and you want to know what alt the valley floor will be.
the calculation is:
(max alt) divided by 255, multipied by 72.
so if the max alt was 10,000, the valley floor would be at 2823 feet, but if the max alt was 13,000, the valley floor would be at 3670 feet.