Danny,
There isn't really an easy way to do this at the moment, but I agree with Martin - it would be a nice feature.
It kind of ties in with "composite track" and batch operations on tracks ideas that we are already thinking about, so I'll add something to the features request thread. The rough idea at the moment is that you will be able to select a number of tracks and view them all together, as if they were a single track (possibly with a merge/simplify (thin) function). Then you would be able to do anything to a group of tracks that you can currently do to a single track; filter on depth, select and delete track-points, change water levels etc.
Matt