I've amended my post at:
I've added images for 1K and 470 ohm pull-ups.
The problem with low-value pull-ups is that they start to "pull" the 0V signal away from the ground reference. That is, they are getting "too strong". For example a 470 ohm pull-up raises the 0V to 0.5V. This should still work, but I would be cautious if you are using long cable runs, because the extra resistance might mean the device at the other end can't pull the signal down low enough. This effect is clearer in the image for the 470 ohm pull-up.
Also, the current through the 470 ohm resistor is now 10mA. That means the I2C devices now need to sink 10mA to counter that (if I am not mistaken). I would be checking their specs to see that they can do that.
Probably in your case I would try to leave the exact value resistors to be checked by trial-and-error.