Day be day, Microsoft is evolving and coming with smart features :)
Now, we don't want to spend much time to build & deliver projects and avoid more coding stuffs if feasible options are there. So, if you want to avoid creating WCF hosting project for *.svc files though your application is going to be deploy on IIS, then Microsoft provide a great feature since .net version 4.0
Now, you can "simulate" .svc via config settings as below -
<system.serviceModel>
<!-- bindings, endpoints, behaviors -->
<serviceHostingEnvironment >
<serviceActivations>
<add relativeAddress="MyService.svc" service="MyAssembly.MyService"/>
</serviceActivations>
</serviceHostingEnvironment>
</system.serviceModel>
You will amaze to know that even this don't require global.asax file!
So, you can conclude:
Yes, it is possible to create a WCF project and host it in IIS without using a .svc file. There are some other approaches to achieve this.
Happy Coding!