I'm not a luthier, but I prefer the sound of my mandolin with what I call high action. The G strings and the E strings are both right at 5/64 above the 12th fret. One thing that is important to me is the action at the nut. With it as low as possible without buzzing, I get the best intonation, especially in the first position, and I can keep the 12th fret action a little lower and still get good volume.
"I thought I knew a lot about music. Then you start digging and the deeper you go, the more there is."~John Mellencamp
"Theory only seems like rocket science when you don't know it. Once you understand it, it's more like plumbing!"~John McGann
"IT'S T-R-E-M-O-L-O, dangit!!"~Me