I'm not as concerned with the original look as most here are, so I can get away with my Grant GT wheel. A smaller wheel might hinder your ability to read your gauges -- placement of the wheel out from the dash would be a pretty important measurement.
I'm thinking a smaller sight picture through the wheel could be offset by a greater distance from the gauge faces and vice-versa.
I've got a Grant because I like the feel and I'm fairly tall - getting in and out, the smaller size makes a difference for me.
I'm a hair under six feet, and I have to use the back, right side of my driver's seat as a hand-hold, step across to the tunnel with the right leg and use the door sill with my left hand to lower myself into the car.
A bigger wheel would really be a pain. Not so much an issue right now, as you can see from the photo, but it will be soon ...