I've read that most players gravitate to a higher action as they get older. It's usually the younger guys who think that they need it low to make playing easier. Not sure how much truth there is in that, but I know I quit trying to do the super-low thing a few years back, and I after making some technique adjustments to compensate I feel the end result is infinitely better. Bass sounds better, feels better, and allows me room to do all sorts of things without a bunch of clackety sounds.
Low action is not required for speed either. I read a couple years back that Patitucci had started using a high action on his basses in combination with half-round strings. He gets all the speed he needs. Roger Sadowsky commented that Marcus Miller used to use a low action earlier in his career, but gravitated towards a higher action now so that he could get better range and dynamics out of the instrument. By the specs Roger listed for setting up Miller's bass, it was a fairly medium action that you would get from on a bass coming from the manufacturer.
I will say that, while simply quoting numbers for action can be misleading from instrument to instrument, knowing the numbers for YOUR bass gives you a point of reference and something to work with over time such that doing your own setups becomes easier. Having an 18" straightedge to measure relief, and string height gauge to set the action allows you to experiment accurately with different settings, write down what you like and don't like, and then make minor adjustments over time to get where you want to be. Those can be picked up at Stewart MacDonald very easily, and I think they greatly shorten the learning curve for doing your own setups. Arbitrarily making relief adjustments and raising/lowering the bridge saddles will lead to hit or miss setups, and you'll always be frustrated.
IMHO.