Photoshop :: Getting Image Thumbnail Without Having To Set Maximize File Compatibility To Yes?

I would like photoshop to show a file image for the thumbnail (instead the generic lines of type). I know in the pref box I can set the "Maximize File compatibility" to "Always" or Ask, and this will save a flattened version of the file as part of the document. But this greatly increased the file size. I did some checking on 10 layered files ranging from 14Mb to 45Mb. The new file size increased a whopping 35% to 88%. That's a heavy price to pay  both on my system here, our back up / archive, CD / DVD burning, and our client systems. I'm in the process of putting together a browser based image library. To render a image thumbnail it shows the generic lines of type if layered (useless), and a image thumbnail only if "File compatibility" is set to Yes. ( Which greatly increases file size, and cost of storage space).
 
Is there a way to get a image thumbnail without having to set Maximize File Compatibility to Yes? It would seem to me that photoshop should be able to create a small, low res flattened version, at a low quality setting, that would be on the kb in size for a thumbnail. And imbed that into the file, vs the bloated composite. I understand the reason for the composite for file compatibailty with previous versions etc. Just not for creating the thumbnail.