I really have to say that medium isn't small at all. It holds even a little more than my medium Selma satchel, though it doesn't look that it could. I don't own a large bucket bag, but I would also think that it is a bit too bulky. The medium though is ok for me.
Do you have the medium greenwich bucket? Do you mind posting a mod pic?
I found a mod pic of the large. It's definitely too bulky for me since I'm only 5'3"!

