I like blocks that have names with meaning, but then I'm a bit soppy sometimes! LOL
It still has to look good though, the name isn't everything. ;-)
EQ can print a block of any dimension you tell it to. And that way there's no math involved, or errors. The reason I would shrink rather than removing a layer or two is that it can change the whole appearance of a block if you start taking bits off.
Having said that, depending on the measurements you may end up with some odd bits, like having to cut strips at 1 6/8" or something silly. I know some people avoid too small fractions, they're hard to get right.