Maybe we should get one thing crystal clear, ( and it has already been stated by a couple of posters above).
The only difference which a higher or lower action makes to tone is in the breakover angle at the saddle.
Let's assume a bluegrass player elevated the saddle to get him more projection, and in the process , naturally the action gets higher.
Same player decides to get a neck reset, and wants the neck angled back to make the action lower, but still keeping the same saddle height.
Result : tone remains with increased projection, but action becomes easier.
So , it's not the altered action per se, it's all down to the breakover angle at the saddle.
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