Seems to me all the advantages stated for 'Track-up' are on a 'Hdg-up' display too. On the 747-400 fit, with 'Hdg-up', you have a white track line which will usually be offset to the left or right (depending on drift) of your Hdg-up line. Therefore to fly approaches or go direct anywhere, just put the white line on the final approach line or place it on your direct-to position, and Bob's your uncle.
Compasses are meant to show where you are facing. Any nautical type will know that, and try and allow for drift (tide) mentally. 'Twas how it was meant to be. Track-up is a mite too clever for itself- for instance, when you stop taxiing, what does the compass display do? Does it swing out of control because essentially, by definition, you have no track and it is not telling you anything then, or does it default to something sensible-ie. Hdg-up? Breaking out of cloud near 2 airfields with similar runways, Hdg-up will immediately tell you which is the wrong one-Track-up could actually confuse you as the Runway nomination may not match the way the compass says you are Heading.