harmon rabb, I don't think that you can find grips thinner than the old bakelite ones. The Russian black grips, found on the commercial IJ's are the same, just different color and of poorer quality. Actually I find thicker grips like Pearce to be more comfortable for handling. New sights - if you wish to spend that money on a Makarov... New, wider front sight and just widening the rear sight's notch works well enough. The hammer is small enough - there is no real need for bobbing it, except if you want to deal with misfires. A Makarov for carry can really contribute from new front sight, better grips (Pearce) and thorough dehorning of the entire gun.
Boris
P.S. A word of caution - there is a reason for the full cock notch on the hammer to be that deep - it prevents the gun going full-auto if the sear spring becomes too weak and it's related to the double action sear's clearance.