I open one track to the desired height, select a bunch of tracks and choose Set as Default Height - but the default height isn't applied to the group. I know I don't have to open every single track and apply the default height so why isn't my procedure working?
 
Thanks - rev

It seems it only applies to a new inserted track. 

Found it: You open them all to the desired height at once using the fader on the right of the track view. Then set the Default Height - but you must now close them all manually, if you use the fader, the DH will be lost.

What I do is drag the right hand edge of the track inspector (? ) way out into the waveform area until I can see all the goodies. This is super fast way to see your effect buses and stuff. Now in X 3 you get the screen sets which really shines for this stuff. 
 
Either that of go to the console view.