I've done a border that finished at only 1/2"! I had a quilt that I wanted to be borderless, but I didn't want my binding to hide any bit of the blocks, so I put on a teeny tiny border sized just right to be "eaten" by my binding.
I'd say lay it out with differing amounts of fabric showing around the edges and take pictures. Somehow it's easier for me to "see" things like that in photos. Compare and decide what looks best to you!