It would work alright but you wouldn't be getting 3.7v from the smaller form. The resistor always restricts a certain voltage flow as far as I know. Would it still be more power than a regular battery from the model your using is the question here.
I HOPE the rocks are soldered and skrink tubed tight in there for the sake of durability. Loose components don't sound like a good idea to me anyway. I know this might not be the best idea for you but why not buy a second model? No unscrewing and you'de help support Jay for his great work
. I know personally if the GLV turns out like I'm wishing I'll be buying a backup anyway, that is, if its available before next year lol.
Oh and question for Jay if he notices, is it just me or does the custom etching turn up on the back side of the unit? I don't mind branding at all but I would of thought the custom names on these things would of been right in front under the LED to show off. I noticed this from a picture of your custom blue 5v. If its the case, do we get a say in this or is it more delay lol? Maybe a vote...