You can simply set the AutoPostBack property of the RadComboBox to false which will still trigger the OnClientSelectedIndexChanged event. Also you can explicitly do postback using the __doPostBack() methods, whenever required.
I am using a combobox which has programatically populated suggestion list and allows custom-text. All worked as expected, except ... my combobox was asserting annoying post-backs on 'lost focus' or blur event even if the record was not in the suggestion box
I did following on my rad combobox it seemed to be addressing my requirements somehow.