To answer your question, no. But for all the surface area of each 2x4 you will one have about an R3.5 or so. Add all that area up and your R7.5 wall goes down. I will be adding 1.5" foam board in between each girt and then adding R19 batt to fill the cavity. Your downfall of your question is the fact that you are wasting the usable insulation cavity and only gaining 5" of space in each cavity, 10" total in interior building width, you have to ask is it really worth losing the money when it comes to heating and cooling?? No I don't think it is.