Well, whats best for intonation is just when the string is in tune for its whole length, so really there is not opinion on it, its either in tune or not. Try putting intonation into google and there will be pages that explain it far better that i can.
As a rule people tend to love really low action as its 'easier' to play (you need less pressure to fret a note), you will see countless adverts on a certain auction site that talk about low action. However, this bit is more down to personal tatse and how good (not expensive) your instrument is. As stated above generally the lower the action the more likely you are to get fretbuzz, in my experienence its easier to get a lower action without fretbuzz with a 'better' instrument. This of course all depends on general set up, conditions of frets, neck bow and how good the person doing the set up is........welcome to the wonderfull world of bass and trying to find what suits you best.
Ultimately, if you are/become a decent player then you can work with almost anything.
Posting after mates 30th at pub so hope that does not confuse things further.