Thanks Gator. Take a look at Toby's thread. We were discussing it there. This spider mite is very close to the smallest, but there is a smaller yet parasitic wasp.
To put this more in perspective, Daphnia are much bigger than this mite. I have seen Rotifers almost 3 times as big. So the lines of size are crossed many times. There are Cyclops, a copapod, that is directly related to insects, but has no heart or lungs. They use to have both, but devolved them after finding them not necessary.
Our world is just amazing.