As with Excel, in WInGrid you can 'Resize Columns by Data' easily by double-clicking the column separator between column headers. Is there any way to configure the same for rows?
Yes. In order for this to work, you have to set up the grid to allow the row heights to vary. So you need to set the RowSizing property (on the Override) to Free or AutoFree.
By default, row sizing is only allowed by clicking in between the RowSelectors. So if you don't have RowSelectors displayed, you either need to turn then on (using the RowSelectors property) or else set the RowSizingArea to EntireRow, which will allow the user to size the row anywhere along it's border.