When working with very dense scenes with a lot of overlapping objects it can still be difficult to see objects not being in Xray mode. A further reduction in transparency would be needed.
I suggest that the user should be able to specify what transparency level the Xray mode should be in.
Although the Visibility track can be changed to further reduce the transparency level of Xray'ed objects, the Visibility track should be treated as an independent component of object. The Visibility Track might contain keyframes that needs to remain untouched, and so on. Also, setting the Visibility Track on many objects is slow an tedious.
An independent setting to globally set how transparent the Xray/See-Through mode should in the viewport would be ideal.
Here is an example of a teapot with five hollow cubes surrounding it. All cubes have been set to Xray mode, yet it is kind of hard to make out the exact shape of the teapot.

Here is the same scene, except that the Visibility track has been set to 0.1 for each surrounding cube. With this visual setup it is much easier to see the actual teapot, but still get a sense of the surrounding cubes.

Conclusion: It would be very beneficial to be able to set the transparency level of the Xray/See-Through mode independently from the Visibility track so that the Visibility track can remain untouched if more transparency is needed.