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Yes you hold the button if you don't the version with presets, let me time mine (the EC1) from sitting to standing height for 5'9" me.
About 11 seconds.
(Any faster and it might spill my beer.)
Once you are used to it you'll know exactly what your preferred height is, and if it's not quite right a small adjustment takes a fraction of a second.
Don't forget that your preferred height will probably be slightly different day to day depending on time of day (your spine compresses slightly during the day), or whether you're wearing shoes or not, etc.
Personally I'd rather spend the £100 odd extra (that the snazzier models with height memory would cost) on something else. But that's more about my spending power than anything else. With the moneygun out you'd just be getting top of the range, even if you never used the extra functionality.
Greenbank-
Ta.
I'm typically trying to do 5 things at once so if I can hit a memory button to get it close to sit or stand mode while boiling the kettle, lubing some Speedplay pedals, putting stickers on the bike, cleaning the coffee kit, etc that, at least in my head, is a bit of a win. But I've never used one so maybe there's less point to it with the need to microadjust like you describe.
hippy
Slow adjustment would annoy me I reckon. I like the idea of a memory setting so it knows your high/low setting. Otherwise, with the cheaper ones do you have to hold the button while it adjusts?