I scan my documents at 200dpi and black-and white and get files that are anywhere from 1MB - 4MB.
For bookscan.us, I request for most books that they scan in black-and-white and they oblige - the resulting books are still 4MB - 20MB. I then load them in Adobe X and save them as Reduced Size PDF, which cuts the size down to 1MB - 4MB. My tired old eyes

don't notice a degradation but that is me.
I have plenty of books that are color or grayscale and for those, I ask bookscan.us to scan appropriately (color if I care to preserve the color, else grayscale); these books turn out to be big (the largest one was a 1000 page business book at 150MB) but again Adobe X helps here (150MB -> 40MB).
Hope this helps.