I actually made a post similar to this, a while back. Wish I could find it...
The basic idea, with any lens, is not only for the optical center of the lens to be in front of your eyes, but also for your eyes to be relatively centered in each lens.
Let's take the easiest example...a circular lens. My PD is 61mm, so I would want the centers of the lenses to be 61mm apart. That means that the circles could be 61mm circles...but oops, there's that nose bridge that takes up some space. So, let's subtract the bridge dimension and see what we come up with.
You take the PD, subtract the size of the nose bridge, and come up with your "ideal" lens size. Since we're using a circular lens shape for this example, let me go find one.
http://zennioptical.com/cart/product.php?productid=467&cat=0&page=1
These glasses have a bridge size of 20mm. So, 61mm - 20mm = 41mm. The ideal circular lens size for me, for this design, is 41mm. Well, this frame has 43mm lenses...pretty close, huh?
It works the same way with rectangular, round, oval, triangular, or any other lens shape...it's just that the circle makes it easier to imagine, in the mind.
There is a problem with this formula, though...it's only theoretical. It doesn't take into account aesthetics...taste...style...trends...and lens shape. But, it does ensure that your pupils will be in the middle of the lens. And, because of that, it gives you a good idea of what size to start with.
Just for reference, I'm wearing a 48mm wide rectangular lens with a 20mm bridge, and it's "close enough" for me. It looks darned good, too.
-- Chuck Knight