Yea baby! Now ur talking my language! Once you are good enough at slide, you won't really be touching the frets, so don't worry about fret wear too much.
I have raised the action on mine quite a bit, but I don't fret notes at all, my Tele is a dedicated slide machine.
Maybe have a look at my thread here
http://www.guitarforum.co.za/setup-mods-and-repair/slide-machine/