There are always holes like this in the UK -- the Road hole at St. Andrews, the 16th at Deal, etc. Probably a lot of them started life as three-shotters and morphed into long par-4's. But I like the concept, for all the reasons Jeff B. mentioned.
The 8th at 9th at Pebble Beach are good examples, but really, every green at Pebble is small.
I haven't built too many small greens lately, but one that comes to mind is the 10th at Old Macdonald, a medium-sized green on a course full of large ones, on a hole that requires a difficult approach shot. I've taken some flak for that one, but the principle is exactly what's being espoused here.