Nowadays, space is cheap, and the machines don't have as many restrictions. So use as much space as you need. :-)
Programming attitudes like this makes me cringe. I've seen horrid things happen when people take a casual attitude towards using memory and CPU efficiently - It leads to ugly botched code. I could name games but I'd probably get a legal letter.
I didn't say anything about memory, processing, or programming style.
When I was first learning to code, I was using QBasic and kept using it well into 2000. So I write all my code and allocate all my resources with a minimalistic attitude, because when I was learning, I had no choice!
But we are talking about file size in this thread. We don't have to worry about using every trick in the book to desperately try and cram anything in. Even mobile games are clocking in at 1gb in some cases.
So use what you need.
Actually this is not true, on consoles and disc shipped PC games you are extremely limited by disc space. An Xbox360 DVD will not allow you to use more then 12GiB on two layers, adding another disc adds substantial costs to development and requires the developer to ask permission to do so. Developers compress the data that goes onto these DVDs as well so that we can squeeze an other GiB or so in, so you see we still have to pull of every trick in the book to make it fit.
Most of the data is eaten by resources: videos(FMV's are big), music and textures; compiled code and shaders often don't take up more then 100-300MiB of space.