I wish Sonar had this option so you could push a fader up and when you let go, it goes back to where it's supposed to be. Or does Sonar do this?
 

You can do that when there is automation on that track. 

If you're using automation, use touch automation and when you stop moving the fader, Sonar will revert to whatever the previous automation had been.
 
If you're not using automation, you can come close to what you want by setting up two default values and double-clicking to revert. I don't see a way for Sonar to go back to "where it's supposed to be" unless you specifically tell it where it's "supposed to be."

Thanks for the replies. A point in the right direction is always helpful. :-)

 I recently accidentaly mapped a Sonar track fader to the spring loaded pitch bend wheel on my MIDI controller. This resulted in something kinda like what you describe.

As far as I know, the only thing close is to right click the fader, choose "set snap to current value", but then you have to double click the fader when you're ready for it to return to your baseline setting. I don't know of any way to rubberband the fader to the baseline value, that would be handy for sure, but this might get you where you want to go for now.

Automation will.