There are exceptions. Plenty of them. The last one I remember clearly is Eclipse's Pumpkin Scissors - both at 170 or 175mb range.
The reason why so many h.264 releases are larger in size is because it's bigger in size. No, I'm not pointing out the obvious >.>; Those are video with higher resolution.
1280x720 = 921600 pixels
704x400 = 281600 pixels
The larger video has more than 3 times as many pixels to show. And the file needs to carry that much info. That's why those files are much bigger.
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