On our 744s the Nav Display is Track Up, but the compass card on the Primary Flight Display is Heading Up. Neither are selectable in the cockpit (only True/Magnetic is selectable).
As with virtually all airborne systems that have a couple primary options, there are good and bad points about either one.
When "following the magenta line" with an FMS, Track Up makes all kinds of sense, because you can reference the wind-corrected heading at a glance (it's at the top!). No mental gymnastics are required to manually fly a complicated Departure Procedure (SID), even without a Flight Director.
OTOH, the Heading Up display is a good quick reference in high crosswinds to get a mental picture of your drift, and subsequently align your eyeballs to find traffic or the approach lights.