I think that size does matter...sort of. It REALLY depends on a lot of factors: room size, amplification, acoustic treatments, and what type of speaker is being used.
There are a few small monitors that can reproduce a PERCEIVED approximation of the low-end you'd expect from one of the big boys. The Acoustic Energy AE-1 Signature is great, my favorite is any of the Westlake products, and I'm sure there are many others.
As you mentioned, in terms of space you really don't gain much, since the footprint is about the same. I think that the main advantage of small monitors is financial. Simply put, a nice pair of stands is often cheaper than paying for 2-3 more feet of finely crafted cabinets.
It really depends on what your goals are...
There are a few small monitors that can reproduce a PERCEIVED approximation of the low-end you'd expect from one of the big boys. The Acoustic Energy AE-1 Signature is great, my favorite is any of the Westlake products, and I'm sure there are many others.
As you mentioned, in terms of space you really don't gain much, since the footprint is about the same. I think that the main advantage of small monitors is financial. Simply put, a nice pair of stands is often cheaper than paying for 2-3 more feet of finely crafted cabinets.
It really depends on what your goals are...