Your first suggestion can already be accomplished with v5.20.
1.) Press the scroll lock
key to have the sound window follow the play position.
Your second suggestion also works (half way), but if you tinker around with it, you can get them off a little more, though it
still has its limitations (unless there is a way, and I somehow missed it).
2.) To get the grid numbers off, go to Options|Window|Y amplitude axis numbering=Off.
To remove the grid lines go to Options|Colour
. Select the grid lines and make it the same color as the selected background.
The limitation is that when you have unselected background shown on the screen, you will see the color of the grid lines.
I made two screenshots. One, how it would look and the other how to do it using the default color preset.
Hope this helps (sorry about the wide forum space I took up, I made it 800x600 at first but it didn't show the blue grid lines well in the unselected space).