I agree that it's softer and lighter, but wouldn't make it 2" just because I'll never make any bow that wide. I'd go 1 3/4 maybe, and go longer.
I tried a few walnut pieces from a board with perfect grain and ring orientation, backed with hickory, definitely less than 1/8", gently reflexing them at glue up. They all got at least one fret. It was relatively early in my bowmaking, but I thought maybe the board I was using had something to do with it. It might be fun to play with, but personally I wouldn't bother. The walnut I have left gets used in the middle of trilams or in glass bows.