When working in Apple's Logic Pro (currently at version 7.2.3) you can alter the size of the Arrange channel strip (and the entire Parameters area, if you so choose) by moving your mouse over the "resize bars" (which are two vertical lines) between the Parameters area and the Track List. The cursor appearance will change, allowing you to click and drag horizontally. As you do this, the Parameters area is resized and both it and the Track List will move either left or right until the mouse button is released. This feature is particularly handy as it makes reading the parameter names and labels much easier.