I thought it was hilarious, actually.
Aside from tonal quality, the restiction I always run into trying to get cabs smaller is making something that will fit a 'full size' head. Too small hurts the bass response, too big gets boomy, so standard width cabs are interesting to design. I find this with both open and closed back, although closed obviously is more affected.
Like everything else, it seems to be a struggle for balance.
Thanks for the replies and links everyone. It's great to know what Cab Calloway is up to as well, 'cause I was wondering that.