I personally would like the 16.5 mm thickness. This is a bold, chunky (in a great way) looking watch, and I believe the thicker case size suits the design well. When this thread first started, and the dimensions were announced, I was extremely excited about the thickness, because you don't see that kind of heighth too often.
I believe cutting down the case a couple mm would be detracting from the visual design of the watch, for a difference in wearability that may not even be noticed. A properly designed watch will still wear very well at 16.5mm.