Yes, this is my preferred setup. If you go donut (ocean) then it is even tighter, and every city is on the coast. If the speed is 'epic' then you are sweeping through cities faster than the AI can garrison them. Capturing cities quickly results in expenses growing intolerable, but the diplomatic advantages of gifting cities to AIs (always on the opposite side of the donut to the gifted city) are well worth it. You end up keeping research at 100% because the loot from city capture pays for all your upkeep. Wonderspamming is actually practical (although no Marble on a donut). Alphabet ~3000BC, Shrines ~2000BC, diplomatic victory ~ 1000BC is quite doable. My favourite though was a Christian diplomatic victory at the BC/AD crossover.