Does anyone know if the second step to the side of a Natural or Reverse is not as big as it used to be taught, giving much more rise and sway. This needs to be answered by someone who is currently having lessons with one of those super coaches the type you book a year ahead, and wouldn't take anybody of my experience even if I could afford it.

Nonsense... when they are travelling and aren't the guest of someone limiting access in an effort to set his competition back, those super coaches will spend an hour with any serious student willing to pay their fee.

As for the second step, it simply goes wherever extending the line of the side of the body to the floor would put the foot. The more you move and incline your body, the further down the floor that can be. But the amount of incline relative to motion must never be so much that your head fails to progress and actually moves backwards.

Hi nod
Deliberately restricting your stride length will not increase rise or sway.
As far as i can see, the top male dancers make both step 1 and 2 of the slow waltz natural turn large, with very soft knees(i.e. they're low on these steps). The sway comes about automatically from the need to control the energy of movement throughout step 3. With restricted movement, the sway will also be restricted, unless it's introduced artificially, which can look bad.
The lady of course is on the inside of the turn, so her movements are inevitable less, but the man should be controlling that.
And think of the second step as being forward also (hey!! do i sense a bit of deja vu?)