I have an Orb Raw Ns, which is a little smaller than the CR2 Orb Raw. My Fire~FlyIII is probably the smallest regulated CR123 light, and certainly the smallest programmable one.
It all depends on implementation. The Fire~FlyIII is smaller than some CR2 lights. Other single-cell CR123 lights are considerably bigger, so a CR2 light looks relatively small.
For very small lights with a general purpose beam pattern, I think the Orb Raw is a good CR2 light. The Fire~FlyIII is one of the best tiny CR123 lights.
The problem with CR2 is it's not that much smaller than a CR123A, but has only about 1/2 the energy. IOW you pay a bigger energy penalty than the size benefit.