yeah, it's not unrealistic for objects to fall at the same speed
the only thing that makes certain light things fall faster is air resistance
physics doesn't account for air resistance, but you could code it with events if you wanted to, by adding upward force for times when there should be air resistance
in this example a constant resistance to falling is applied,
http://dl.getdropbox.com/u/1013446/airresistance.cap
but if you wanted you could design a more complex model that takes angle into account, and external forces, like wind puffing out from dropped objects. And of course, code for the angle as well
it's just a matter of working it all out,
but point is, smaller things falling at the same speed is correct since physics doesn't have a parameter for air resistance or the presence of air for that matter