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Doubt it for the immediate future.

Those smaller components come at a price premium that doesn't make sense for the mac mini, as the entry level Mac. Moreover, as a desktop/headless mac, the mini doesn't really need to get any smaller. Apple would also have to invest in a complete re-design of the mini: its case, architecture, etc.

If anything, the mac mini case could stand to be slightly larger to accommodate larger harddrives, and make user upgrades easier. That said, I don't see Jobs making any computer have a larger footprint than it's predecessor...esp. something called the mini :)
 
There would be no point in making the mini smaller. The smaller HDD will be slower, SSD would be too expensive.

It's a proven computer and I can't see any reason why Apple would mess with it. It's certainly paid for itself by now and allows people to buy an entry level computer. By reducing the size it would be too expensive.
 
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