Basically, yes.
Years back I was told the lethal shock is 20mA through the heart, although
according to Wikipedia* it's more complex than that and mentions 60mA as causing fibrillation (disruption of the heart rhythm, fatal if not dealt with ASASP).
In any case, it's harder to achieve than you might expect, if you're right-handed (unfortunately I'M left- ). Small RCDs usually trip at 30mA, so if you assume the current is distributed through the body, it will probably not be lethal.
In terms of speed of response, RCDs are quite fast, but speed isn't as critical, apparently.
In any case, all this "dropping the (whatever) in the basin/bath/shower" thing is a red herring in a properly protected environment. I'm not a great fan of earth bonding (the rules are silly), but one of its good points is that, like all earthing, it encourages trips and fuses to operate. In every case, a good earth should mean that the circuit becomes dead very quickly, hopefully before lethality conditions can occur.
And in any case, lethality is caused by a path through the person, rather than "being in the presence of". So you're more likely to be dedded if live and neutral/earth are across your two hands, than across two fingers of the same hand. I've had the latter sort of shock on many occasions, and it hurts, but I'm still here!
There is an argument that 'shaver' isolating transformers in bathrooms don't actually help matters. The good thing is that you can only get a shock if you come between live and neutral, but they render RCDs pointless.
American bathrooms (at least the umpteen hotel ones I've been in) seem to use RCD socket plates. So the reset is right next to the socket itself. I'm not sure if this is a good thing or not!
One of the big factors in fatalities at lower voltages is the contracting of muscles: touching with a fingertip something you believe to be live is unwise (on many levels!), not least because the finger muscles will push the fingertip more firmly onto the object.
Older electricians I know wear no rings at work, and keep one hand in a pocket whilst working on certain tasks. If shocked the path through the heart isn't as well defined as when it's through one arm, across the chest and through the other.
E.
*
http://en.wikipedia.org/wiki/Electric_shock (couldn't get URLs to work then realised I'd missed the protocol bit off the front!