I don't play chess, but my finger in the air estimate is that the whole record of the game weighs a few kb at most.
I'd venture a guess that all players data and their avatars take more space. Or maybe less, but not much.
The game gets even more compact in that not all source and destination squares are possible at every move, etc. But, you're dead on in your estimate.
SCID uses 1 byte per move which is close to optimal (it splits it into 2^4 for piece and 2^4 for direction, with some edge cases).
SCID vs PC is a fantastic tool for chess players, I maintain a massive database of master games using it.