nandini
Tried it and loved it!!
Interestingly, the first time around I forgot the butter altogether - had it in the microwave melting and being scatty left it there!
anyways, the batter was, naturally, thicker than expected, but I added in a little extra milk to bring it to what seemed like a good consistency and ended up with delightful fluffy light and unintentionally healthy pancakes. 
I would recommend doing this if you want a low-fat version!