What defines whether it needs more power is how many heads it has, and more importantly how many platters. Data density has gone up tremendously in the past few years, so a 60GB hard drive of a few years ago may have had 3 platters, but a 200GB drive of today may have only one platter. Along with that, the electronics are more likely to be a little more efficient about power usage, although that might be offset by the larger amounts of cache being used these days. But it's not really easy to compare the electronics from one generation to another, too many variables, and that has nothing to do with the size of the drive.
Of course those two things are only able to define a bare minimum amount of power needed. Depending on what sort of specifications the manufacturer was going for, it could use more or less power. If you make the drive spin up to full speed in less time, it needs far more power at spin-up than another drive with the exact same configuration but slower spinup. Also things like the access times will affect it, since that's a matter of how quickly the read heads are moved around (along with the rotational latency of the platters which will be the same for all drives of the same RPM rating).