Jerry,
Not sure what is in vogue, exactly, as it tends to be the big world theory that TePaul espouses.
I can tell you that I have had clients who told me directly to keep greens to the absolute minimum to maintain costs. In fact, since I typed this out, I am cost estimating a project right now, and cart path costs, greens, bridges are the big cost item. To get anywhere near a reasonable budget I have tried to save existing path, cut irrigation down a bit, and reduced green size. You have to cut the big ticket items to reduce budget.
I agree as an architect and player that in general, small greens and delicate surrounds are more interesting. I usually include one biggie size green per nine for variety and spice only. I also believe that the small greens are a bit of an equalizer between the gent who competes on finesse, over pure length, and prefer smaller greens for that reason, beyond just cost!