When you factor it into a bunch of 40-line things, is it really less of a mess, or is it just that you can't see the mess any more -- maybe it looks clean, but if you pick up the rug, the room is filled with dust?

I think also what you're talking about is a function of programmer skill. I think if you have a good programmer write a 1000-line procedure, and a bad programmer write a 1000-line procedure, you are going to get drastically different things ... just like with anything.