YES - i would not mind a small increase in width, 3-4mm, if we could take 30% of thickness. The girth would be similar or smaller.
i don't use a case, even on my iPad2, because the thinness is very appealing. I was one of the few that liked the mtorola Q. Wasn't that bad in its day, and one of my kids still uses it. Before that I had the Treos - OMG I have one in my desk draw, its truly a brick - more useful as a personal defense weapon than my 4S