If you somehow manage to connect your arms/hands to either terminal, even a portion of any isolated mains will do you in. All it takes is enough to fibrillate the heart. However, if the supply is earth bonded and protected with a RCD, chances are much higher that you wont be sitting there becoming burnt toast.
This has been raised before in discussions about isolation transformers. Yes, if you grab
both sides, you get buzzed. And if you grab both sides of an earth-referenced RCD/GFI protected circuit, you still get buzzed but if your feet are sufficiently grounded so that additional current also goes to ground through your toes, you might get lucky and have the power shut off. This is why although I advocate the proper use of isolation transformers, I don't advocate using them in a general 'safety zone' sort of way.
However, the point remains that no ground is needed for RDC/GFI, although they are a bit pointless if the power source is truly isolated and remains that way with no faults. You can dream up corner case scenarios even for ground-referenced power. Imagine grabbing both sides of a split-phase system with both hands and bare feet on concrete. The leakage to ground may be balance out and thus the GFI won't trip.