It is a common mistake to chunk the mizrahi jews into the sephardite sack. Bt technically speaking, Sephardi jews refers exclusively to Iberian jews and their descents. Which, for the most part where Caucasoid-looking in the Mediterranean sense and not extremely different from other European meds.
Saying then that "The Sephardim from Spain and Portugal can be up for debate" is laughable in many sense since the Sephardim refers exclusively to those jews that root from Spain and Portugal.
Again, the ones that left for the middle east, would gradually mix with middle easterners and become middle eastern looking (like that gorgeous girl I was lucky enough to date a few times in the mid-late 2000's) . The ones that stayed in Europe would retain their Euro-Mediterranean appearance.
here what sephardic (iberian) jews looked (and look like)
http://upload.wikimedia.org/wikipedi...s_-_mosaic.PNG