Well, im no expert, but... i'd be really surprised to find it's used to mean 'small'. In the old days, as i mentioned, it was a pimp. Nowadays, people normally use it when talking about someone who is a freeloader or sponger.... like 'he was poncing off his friends' or something like that.
And poxy doesnt mean small either... it means something that's scummy or cheap or inferior.
Anyway, im very sorry for hijacking this thread... i was just trying to point it out in case it caused future embarrassment for Meggles!