Just Engaged and Proposals

uneasy about my big, beautiful, unusual ring...

my fiance(!!) proposed on saturday, after four years together. i am over the moon with happiness, and all of our preliminary wedding planning is going along like a dream, but there is just one hitch: i am uneasy about my ring. a while ago i'd become really taken with the jewelry of a local artisan jeweler (who is also a friend of a friend), so my fiance went with her for the ring. however he surprised me with a much bigger stone (an unusual, organically shaped flat rose-cut diamond), with a thicker band and a bigger setting than i had envisioned - which i am having a hard time feeling okay about. the stone is almost 2 karat (and 3/8" wide) and i'm afraid it looks out of scale with my finger (size 5.5) - not to mention the fact that i am uneasy about having this much money spent on me!
the rings that i loved were smaller, more delicate, and about half the cost. especially now that "his" money is about to become "our" money, i am loath to hog so much of it on a ring, when something simpler would make me equally happy. he's commented about how we should have the ring appraised, alluding to the cost and his slight discomfort with it, and i've asked if it wasn't too much money, and he's said "not if you love it, sweetheart"... but like i say, i'm uncomfortable with the size, and the cost - and he seems to be uncomfortable with the cost too! this jeweler is who we'd have make our wedding bands (though i'm having a hard time seeing how i'd wear a band with this ring), so my thought is this: suggest to fiance that we trade the big ring for a smaller ring, and use the difference toward our wedding bands.
AND my question is this: do you think this would this be a big blow to my fiance,  to suggest that we trade the ring in? do any of you ladies have experience with changing up the ring you were proposed to with?
picture is below, any thoughts much appreciated!

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