I don't think so. He's good on heavy fuel.
He has a way of swimming through traffic. Take Hockenheim for instance, overtaking Webber on the outside on lap1.
Another thing is that he doesn't have to do a complete overtake to overtake someone.
Let me explain; approaching ascari, all he has to do is come beside another driver. Being beside them on the inside automatically compromises their turn, they'll have to let him through or mess up their exit, where they could be overtaken on the straight.
The low down-force setup could work. Just needs a ballsy driver making the right moves.
edit: What tyres is Hamilton on?