I think it's a bummer that there aren't some option in between. I could see 64 meg pages being really nice.
Ultimately it would be handy to be able to tune page size for the loads that you see. I could see page sizes jumping by 4x or 16x (2 bits or 4 bits) each time being reasonable.
The real issue the author is talking about isn't "how much memory does a process allocate" but rather "how many total pages does the OS have to keep track of and what percentage of those fit in the TLB at any one time?"