On the latest few Micro's I bought (for work), the soft plaster outer covering slips right off. That leaves the entire drive the thickness of the USB connector. They even come with two alternate color sleeves/caps, which are a great replacement if you loose the cap or scratch it.

The older Micro's (no, not possessive, pluralization of a brand name) had the sleeve fixed in place, I think. I'd check, but my co-workers have them now.

And CURSE their engineering department for having such a well lit activity light on the end. If only I had that knowledge.