I can tell you what I have found in my pool. I gradually dropped my TA to around 40 ppm and that stopped the incessant rise of pH; like you I was marveling at my pools appetite for MA. Considering Borates is a possible solution to buffering pH rise, too. I, personally, think you are correct in pushing your pH into the 7.2-7.4 range as it makes your chlorine a much more effective sanitizer. Chlorine is 33% effective at 7.8 pH and 66% effective at 7.2 pH. (And at the price of chlorine these days...) I shoot for 7.2, though no lower. That gives me effective sanitation at 3.0 ppm chlorine.
Considering the "red eyes" common rhetoric, the normal pH range for tears has been tested at a pH of 6.5 to 7.6; the mean value being 7.0 pH, so I don't think an accurately measured 7.2 pH is a problem. I've never had any complaints, but if you received some you could always edge up a point or two.
CDC Fact Sheet