nope.. 39mm is a great size.
The Watch Appreciation Thread (Reviews and Photos of Men's Timepieces by Rolex, Patek Philippe, Breitling, JLC etc...) - Page 730
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Love the vintage Heuers. The dials are really striking and the case shapes are very cool !
39mm is not a big deal on a 7" wrist. My wrist is less than 7" and I can comfortably wear a Sub, Explorer 2, or Daytona, all of which are 40mm and there is no overhang or anything to suggest they are too big. Its a comfortable size. Good luck with the Explorer.