If you use your own custom widget for the painting.. you won't need the displayimage, necessarily. Just drawPixmap the heatimage on the widgets painter. and then directly draw your circles. Does that work?
LUT: Well it adds up. And it depends on how often you need to refresh your heatimage. But it seems pretty stationary in your case. So forget about it. I had 2560x1600 realtime changing pixels where it made a BIG difference..
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