Germany sans the Rhineland, silesia and basically all of North eastern Germany?
Umm... Maybe.
OTOH, The German Confederation, what would be come the Reich in this scenario, was/would be a strange place.
The ruler of Holstein (a land within this Reich) was the King of Denmark.
The King of the Netherlands owned something, too, I forget what.
And Austria owned bits over by the French border.
This would have been a very feudally confused entity. Person X is subordinate to Person Y as ruler of territory A, but the relations might be reversed in territory B, and certainly they'd be co-equal in their main territories.
It would encourage, IMO, the growth of self government in these contested lands.
Prussia in 1848 is not too hard to pound into the ground (at that date their army was still quite obsolete), and I could see them eventually separated from their Western half (which did not like too much being under Prussian rule anyway).
Indeed. If Prussia isn't willing to allow its western land to fully participate in the new Reich, while the Austrian Emperor, the Dutch King and the Danish King all do, then Prussia might end up LOSING said western territories.