It's going to be slightly off from the actual thickness of the gasket. the timing belt is not perfectly in line with the plane you are moving the head when you use a thicker/thiner gasket due to the different sizes of pulleys and the location of both of them in relation to each other, so there would be a bit of calculating involved to get it %100 correct.
in any amount that is does move, i'm sure it has a negative affect on performance, that's the reason we replace out riming belts when the strech.. the flex has the same effect on the timing.. unwanted advance/ retard that the computer doesn't know about.