Is a smoke simulation with more than 512 divisions possible? Short version:
The amount of divisions (resolution) a smoke domain object can have seems to be limited to 512. Is there a way to get more divisions than 512?

Long version:
I am trying to make a smoke simulation for a flying rocket. The rocket will be flying up in a straight line, so the domain object of the smoke simulation is narrow and high. The way the resolution seems to work is that blender takes the amount of divisions set, applies that to the height of the domain, and uses only a fraction of those divisions for the way smaller width of the domain, so that for every "pixel" the height and width are the same in size.
The baking process does not take that long because the total amount of "pixels" is not that high. Unfortunately, I need a lot more divisions in order to get an accurate simulation, while there seems to be a limit of 512 for the amount of divisions of a domain object. As a result of this I end up with a low res, inaccurate simulation, while my computer could easily handle more divisions. Is there a way to have more than 512 divisions?

Screenshot of the domain object:
Unfortunately, no. Also I believe that it always alocates the same divisions along each axis, so generally you might want to keep it smaller than 512. You could take a look at using the smoke high resolution to get more details. If you want a render at that distance you could consider using particles instead. Or you could divide it into separate shots.

edit: Yes, do as gandalf3 suggests, but you'll need adaptive domain enabled for that. Otherwise it will move the current simulation data.