You mention that the extra space above the text is to provide extra room for special characters. If we do not use any special characters in the design would it be possible to disable thing function?
One thing that is a bit annoying is not being able to centralise the text to another object, it's usually 1 pixel out.
The new type implementation mimics how line heights work on web. You can force to a smaller fixed line height, but it's generally not a good practice.
I'm still trying to figure out line heights in iOS, which seems like a big mystery. Anyone have any input on this?
Nope, it's a mystery.