It seems a very very good idea! :)
But when you try it with the CanGrow property, the Height property shouldn't calculate the CanGrow option and the actual height of the field!
I've tried a report with 2 Fields and this code:
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Me![Key_element].Height = Me!COL01N0002.Height
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Where Me![Key_element] is placed always on one row and Me!COL01N0002 is placed always on multiple rows using cangrow property
So to get a working function you need to know in which field what number of symbols are stored on one row with the specified formatting...
But in this case you are doing programatical CanGrow and you can desactivize the can grow property!
:)