I know exactly what you mean. I use the same technique at times. The answer is no. I haven't seen a way to make the relative lenghts of the waveforms on the display match the relative lenghts of the tracks themselves. However, knowing the relative time lenght between the tracks, 8 mins vs 5 mins for example, I have become reasonably good at being able to judge and match up transitions between the waveforms visually, aided by my ears of course to identifying the measures. So, it can be done.
I am not sure if any decks out there have have the ability to display the wave form in a time consistent manner. I suspect they all stretch or compress the waveform to meet the display width.