Ok, I am sorry, I typed faster than thinking and on further reflection some of what I said was wrong - I apologize...
I realized this when I picked up the old master cylinder on my desk and played with it for a moment...
So let's start from the beginning here's what happens in the clutch/throwout:
1. the clutch disk gets thinner which means
2. the pressure plate has to move further forward to clamp down when the clutch is released
3. when the pressure plate moves forward the throwout has to move backwards as it is cantilevered on the fingers on the pressure plate
4. the pedal and the throwout move in the same direction...
So, over time the throwout "bearing" face will move backwards when the clutch is released...
Now for the pedal and here's where I screwed up...
1. The master cylinder works by moving a fixed quantity of fluid into to the line going to the slave. When you push down on the pedal it takes the fluid in front of the piston and pushes it forward by the amount the pedal moves it forward.
2. The neutral pedal position is decided ENTIRELY by the spring on the pedal. It WILL NOT move over time... The terminal position also will not change (see below).
3. when the pedal is released fluid from the slave may move freely through the master cylinder (to and from the brake fluid reservoir).
This part is essentially the "self adjustment". As the throwout bearing moves further backward, the bladder in there when fully engaged (pedal released) becomes smaller. So the "resting" position of the throwout self adjusts the quantity of fluid in there because the system is "open" when at rest and the pressure of the fingers of the pressure plate equalizes with the weak spring in the throwout bearing.
4. the pedal motion will ALWAYS move the same amount of fluid (unless of course it leaks like mine which is why I have one on my desk) AND the throwout ALWAYS needs to move about the same distance to disengage the pressure plate...
So, the correct answer is NO, the pedal will not move a perceptible amount - the hydraulic system is self adjusting by virtue of the fluid moving to equalize the pressure when the pedal is released. Over time as the clutch wears the fluid volume in the throwout bearing with the pedal released will decrease, but it still adds the same amount of fluid to move the pressure plate enough to free the clutch pate.
Again, I apologize for any confusing or misleading statements above...