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No, changing the height is not possible. We decided against using the maximum screen space as we found it visually more appealing. And you can use the space for things like the hud panel.
I guess Max just meant to say that it is not possible right now. As in "you can't, currently". It's not difficult, we just didn't built it in, and we may never do so.
I put it on our list - should be no problem, I think :)
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