I just tried this and the default text size and typeface for native OS X applications such as TextEdit can be set using the freeware utility
TinkerTool.
Note that will change the typeface and size for
ALL OS X native applications and setting the type size too big can cause text overflow problems with some applications and circumstances. Applications that have their own typeface and font size settings will override the universal setting.
As far as changing the view options for TextEdit I think you are out of luck. I even tried creating an Automator workflow and an Apple Script to do that and AFICT the view setting in TextEdit is not scriptable.
I don't pretend to be an AppleScript expert so someone else may come up with the answer. I suspect the initial View settings are hard-coded in TextEdit.
99% of what tinker tool does is not via applescript, but is via DEFAULTS. (modifying preference files)
the trick though is figuring out what file to modify, and what key/value to use. The bugger is that SOME settings are not even present in the file, and are assuming "default" value. Like showing hidden files in Finder. The AppleShowAllFiles key is NOT present in the file normally. To show hidden files, you have to set the key to TRUE. Setting it to false (or removing it completely) disables it.
So it's difficult to know what "undocumented" keys are available, because you can't just look at the prefs file to see what options you have to work with. Sometimes people will scour files for text strings that look promising, in an attempt to uncover undocumented features. Things like turning on the debug menu in disk utility.