For example, can I make my text width 120% and height 100% without destroying the live type?
with selected text open Scale Docker (Windows-Dockers-Trnasformations-Scale (see screenshot from X5 below)
I agree that horizontal and vertical scaling would be nice. Most of what I do is visual and so precise adjustments are not needed in CD or AI.
So when I want "expanded" text (horizontally scaled text) when it is on a path, I just ctrl-click on the text to select only it, then stretch one or both of the middle handles. Still editable text. I don't know if a fly by the seat of the pants approach would work for you or not.