I'll try to explain what having a low track does...
Think of your PAP as the center of a circle. That circle is your track, and your track is the path that rolls on the lane over the course of one revolution of the ball.
Now the closer your track is to your thumb and finger holes, the farther it's going to be from your PAP, correct? And the father it is from your PAP, the larger the circle is going to be. And the larger the circle is, the more ball surface you'll have come in contact with the lane on each revolution of the ball. The more more ball surface you have come in contact with each revolution, the more friction you're going to have. The more friction, the more hook.
Now this doesn't mean that you want high track though. There are a lot of low track, high rev bowlers who are very successful. The high revs create more pin action and the lower track can help the ball make a less violent reaction off the breakpoint.
Higher track bowlers generally have to deal
with the ball being jumpier off the breakpoint. There are other factors that go into it too.. there are people who spin the ball more that have the ball jump and there are higher track bowlers who don't, but my experience is that in general, higher track bowlers have the ball transition faster at the breakpoint.