They are twice as expensive to do the same job. I think the small ones are a wste of money though if you carry a bunch in the tool bag they sure save some weight. When we get into the 2' range though they are a lot easier on the muscles.
The new ones are similar in size to the forged steel ones, but I am not sure if they will take the same beatings. The original ones were so much bulkier that we never used them.