The title of this thread were my thoughts exactly, and still are. I was frustrated by this toosmall/toobig thing for quite while until I finally settled on the compromise I liked better, the Plus.
Coming from a 4.8" Galaxy S III, I could not go down to a 4.7" screen on a phone that's actually taller than the S III.
The 6 Plus is excessively big for a 5.5" screened phone. I briefly had a Note 4, and that handled better than the Plus, all while having a 5.7" screen.
If the iPhone 7 brings a Plus with a smaller body but remains at 5.5" I'll be happy man.
One thing I know for sure, and I mean it this time (I once thought the S III was huge), is the 6 Plus is the biggest I EVER want my phone to be. My biggest gripe with Android lately is how all the top tier phones keep getting bigger and bigger and bigger. Any conservative (I could say "normal") sized phone is spec'd terribly, and treated like an afterthought.
Bring on the Newer, Smaller, Faster, Sleeker, iPhone 6 Plus with no camera hump (make it thicker if you have too)!