What is your definition of small, and when you say adjustable...are you referring to directional?

Halo, Juno, W.A.C. Elco...most manufacturers( i probably missed a few) make recessed lights in 6", 5", 4" and more recently, 3" diameters. Eyeball, eyelid, pop out, gimbeled recessed...all trims rotate. Things get dicey when we get into bulb type. Halogen presents the most options....LED has a ways to come to catch up.

Home Depot surprisingly has a good selection, check online and in-store.
They also sell them in a bulk package.

Thank you all so much! I did see some from Elco and WAC that I liked.
Will also check out the Home Depot selection.
Yabro- i was hoping to get something that measures about 2 inches - I don't like big holes in the ceiling and I would like minimal frames (don't know how to refer to the part that surrounds the fixture and lays flush to the ceiling).

They refer to it as the "trim". Standard description for all recessed / can light housings ;) 2" ? Wow. I'm not aware of a housing that small. Not saying they don't exist

I have seen the 2" but they have been LED or Halo.

Yes, that is what I want - 2" LED or HALO, adjustable basically to use at edges of the room to give glow and some light on artwork, etc.

Interiors Int'l - do you know who makes a really nice one or who makes them at all?

Halo is a manufacturer. Here is a 2" 45 degree adjustable LED driven trim from W.A.C.

http://www.lightingdirect.com/wac-lighting-hr-2led-t109f-w-2-inch-led-recessed-trim-light-from-the-tesla-collection/p1920699?source=gg-gba-pla_1920699____27796135649&s_kwcid=PTC!pla!!!54303504089!g!!27796135649&gclid=COj0vbqC-bUCFdOHMgodMG8A3Q

Thank you.... I think the WAC looks very nice!