I think that if disk space is an issue, then memory would be and issue also.
You'd think so! But I actually usually have less disk space available than I have RAM. The old adage that there isn't a HD you can fill to the brim with random bric-a-brac in three weeks' time is still true.
That said — the SQLite DBs I've encountered so far aren't that big, no; on the order of (tens of) megabytes, which wouldn't be an issue even for me. OTOH there's no a priori reason they couldn't be (much) larger.
Being that you only have to extract the SQLite DB file and have complete control over where it goes, it should be pretty easy to identify, extract, operate on and then delete that single file. (But maybe I am missing the point?)
No, you got it nailed. I was really only asking because I'm too lazy to put in even that much work!