Agreed. I'm not a great fan of giant fish, and really there are lots of just as interesting smaller fish that would work fine in a 30 gallon aquarium. If you want something that is sleek and/or predatory, consider:
* Dwarf snakeheads (e.g. Channa asiatica, Channa gachua)
* Dwarf pike cichlids (e.g. Crenicichla notophthalmus)
* African butterflyfish (actually very closely related to arowanas, keep in groups)
* Celebes halfbeaks (can be mean tempered, but fun to breed)
* Pimelodella pictus catfish (eat everything they can catch, but very pretty)
... to name but a few.
You can easily find these fish, and they can adapt to relatively small tanks as well as survive on frozen or flake foods. I kept a Channa asiatica for a while, and it was a delight. OK, it looked mean, but in fact it was very peaceful and easy to look after. Happily ate squid meat and prawns.
Cheers,
Neale
Why would you want to keep them in a smaller tank? They are big fish and need big tanks, if you cant supply this then you should not buy the fish, its as simple as that.