The more relief, the lower the strings can go?
nope
without overcomplicating things,
action = saddle height (and also nut action, but that's another story)
now to complicate things,
the truss rod was invented with the intention of compensating for neck bowing. i don't believe neck bow is meant to be manipulated. but hey, i'm a believer of "whatever works (as long as you know what you're doing)"
if the action is too low, fret buzz could result;
a. on a perfectly straight neck, the fret buzz will occur all along the fretboard.
b. if the truss rod is too loose (too much neck relief), fret buzz will occur when you fret near the nut (lower frets) <--- take note of this point
you can sketch it out on a pencil and paper to help you visualize
increasing the saddle height will solve fret buzz. but that may cause (to an extent) the neck to bow further, because string tension increases due to the fact that the strings are at a hypotenuse to the plane of the fretboard. setup requires patience for good reason
the optimally lowest amount of action is the point where raising the saddle eliminates fret buzz.
the catch is that fret buzz in the first place is caused by the vibrating string, and the amplitude of the vibration depends on how hard your attack is.
now having mentioned the "take note of this point" point above, bowing the neck will lower action over the higher frets. however, the dreaded fret buzz occurs when you fret the lower notes. if this does not happen, it could mean that you have
already compensated for this by having your saddles raised more than necessary. on a whole, your bass will not play well over the entire neck i.e. poor setup.
please correct me if i'm wrong. my knowledge of guitar setup comes from gary willis. of course not personally (i am what is known as 'kucing kurap') but through his site. i got his link somewhere but too lazy to find

. but i heard there's this good site called google.com