I've really been enjoying this thread. Nothing like having one's prejudices confirmed! On the island where I live we've just had our week-long annual Arts Feast, in which local artists show their work at local eating places. I had three exhibitions, featuring large, medium and small photos. I didn't sell any of the large prints, only three of the medium (13x19) and seven of the small (between 8x10 and 4x6) plus lots that I made up into postcards. I suspect there were several factors involved: 1. tourists, who came in their thousands, can't cart around large art works while they're on holiday, 2. locals were telling galleries that they simply had no room left on their walls, after several years of supporting the event, 3. times are hard and people don't want to spend on expensive large art works and 4. my small photos, which sold well, were in plain mats, unframed, no glass and hence inexpensive and portable.
I've been complaining long and hard here that photos have been getting bigger and bigger every year. It's been very noticeable that it's the big ones that always seem to win the competitions here and I'm sure some photographers have simply gone along with that. It's crude and unsophisticated, but it wins prizes...
God I'm getting cynical! But yes, small is perennially beautiful.