Implement ability to lower precision if there is not enough width when displaying arrays as strings

IMO this should be the default. Unsure what the exact behavior or the API to customize it should be (see #1010)

New option for min_precision? which would mean "if a value cannot be shown with at least that precision, do not display it?

In #1010 for example, most users would much rather see the numbers with less precision than not see them at all or not see them all