Two things ...
The IATA standard is the same, or less in all three dimensions, than what airlines allow today. If you have a bag to their standard you should have no issue with any airline that your bag may be too big. But you are giving up volume.
Some airlines (AC, WS) have already said they wont reduce their sizes to the IATA standard.
Second, and I've only seen this on a video clip on IATA's site. The OK label looks like it is part of the bag, and, has a unique code on it. Apparently if you register the code you can be reconciled with a lost bag much easier. Of course these are carry-on bags and very few of those are ever lost. Wonder if the bag manufacturers will do same with checked bags.
http://www.iata.org/pressroom/pr/Pag...-06-09-02.aspx