As far as the first wave deluxe Dinobots are concerned, yes. I'm not sure that they're noticeably smaller, but you are getting a bit more bang for your buck. There seem to be more paint apps on them, the materials used (e.g. Scorn's hard rubber tail) seem higher quality, the engineering is top-notch, and they aren't actually all that much smaller. They are very good and very good-looking toys.

I can't speak to the others, but the Dinobots are the standouts for me.