I tried this. My save file was 1.6 GB and after deleting duplicate "ObjectEvents" it was down to 3 MB. But, it didn't load properly. It took forever to load, and when it finally did, all my vessels were either invisible or were stationary (they were in space but were apparently at 0 feet and 0 m/s and could not be controlled). Also, when attempting to launch a vehicle from the VAB, it was invisible and not controllable on the launchpad.
Anybody run into that issue and know how to fix?