I'm not saying that the other way is not good for some people but for me I would rather not have the dead space being used so maybe leave it the way it is and make a more stream lined version.
Or possibly have the ability to remove items that someone would not need…
Like the automation buttons, icon place holder…
BEFORE:

AFTER:

+1 - I like it!

this totally make sense...looks super clean!!! +1 too
 

Yeah !!
Been wondering about this for years
+1

One thing that comes to mind with the logic of the UI layout currently being used is that when looking at the "dead space" from a standpoint of those using Touch-enabled screens or laptops, etc.. the blank area around functions definitely makes it a lot easier to quickly use touch features like "selecting" the track, "grabbing and moving" and doing other tasks via multi-touch besides simply toggling the buttons or selecting the drop-down menues for automation views etc.

That said, there COULD be a "mode" users can select for "mobile" just as Windows 10 now has the "Tablet mode", or the app could be responsive to Windows' "tablet mode" toggle, and then respond with the proper spacing for UI touch logic (user's "pixel-touch area" input with proper padding between functional objects so as not to confuse the application and more easily use buttons, and perform actions). 

I'm quite happy with SONAR's track view strips (I don't really have dead space, as you can see). I need the big track icon area because it allows me to quickly maximize (and undo) the track by double-clicking (when Auto Track Zoom is disabled). The only thing I don't like is the invisible "reset peak" button in the upper-right corner. I sometimes mistakenly click it when I want to move or resize a track.   
 

 

icontakt
I'm quite happy with SONAR's track view strips (I don't really have dead space, as you can see). I need the big track icon area because it allows me to quickly maximize (and undo) the track by double-clicking (when Auto Track Zoom is disabled). The only thing I don't like is the invisible "reset peak" button in the upper-right corner. I sometimes mistakenly click it when I want to move or resize a track.   
 

 

Yea, but you FX window disappears before you get it to what I'm talking about...
I fine on my main system but on laptop I would rather clean up the dead space.
 
;)
 
Peace!

I removed the icons, so it looks a little better (less dead space) than the first image in your post.
 

 
 
For those who thought the OP's request was nice, are you really happy with the location of the Take Lanes and Automation Lanes buttons? If you resized the track a bit, they wouldn't be visible anymore. Are you all keyboard shortcut users (using Shift+T and Shift+A)?