The redo panel is actually global but only in the 3D view. Additionally it takes up a lot of space, doesn't really fit well in its current location and generally could use a redesign.
No Design Decisions Yet:
This has turned out to be a fairly big task and will likely go along with a bigger redesign. It's not going to be decided on immediately but we can have some further brainstorming or design work here, even if it's likely this will not be implemented in the next few months.
See the comments for various proposals.
Put titles in the same line as the setting, much like in the Properties Editor