Yes but that doesn't affect the layout, just needs some air to flow over the chips, which I think is the reason the console wasn't being shown, it had to be redesigned at the last minute (they presumably added chips on the underside when they moved to 8GB, air then must move under the board). The biggest size issue will be the heatsink design for the SoC, which I'm pretty sure will be a flat centrifugal design, not a "tower" like the xbox.
My theory is that when they dropped the speed from 192 to 176, it had nothing to do with the move to 8GB, it was to move from 1.5V to 1.35V. The lower power could make the difference between needing a heatsink on the chips or leaving them bare.
They could be using the Hynix H5GC4H24MFR-T3C which is the fastest 1.35V part available now (according to hynix it's full production Q2'2013). Magically it's also exactly 176GB/s
BTW, I'm just saying the motherboard itself would cost less... GDDR5 still suffers from the "chips-are-horrifically-expensive" problem. But each little bit of money saved left and right can make the cost difference less dramatic.