I can see why it's been done. I think the size he has taken it to is like 'the bare minimum' but It looks ok. the site looks smart IMO.
Though I don't like my links being resized (as they are so small anyway) I can see why some people wuld want to downsize a few of the links.
I'd be iffy to list it on any on my link sites, it would depend on how acceptant my reviewer felt that day!
hehe