I find that most cake recipes are meant for large servings and so the cake is 9" or 10".

Is there a proper way to convert such recipes into cake pans that are 5", 6" or 7"?

It can't be as simple as just "halving" all the ingredients and baking time by 1/2, or fraction, can it? I'd also hate to eye all the measurements, etc.

There's got to be an easier, better way!

yep it's that easy. Just multiply your ingredients by the decimal equalivent that you want to shrink it. The baking time will NOT follow the same rule.

Mike