The formula Geir gave uses stellar mass, not stellar volume.
At those distances, the body acts like a point source. Light, other radiation and gravity vary with the square root of distance.
The use of 100D is just an approximation. The gravity well is generated by mass. Also, the formula was presented due to the discussion of black holes, and requiring the accurate formula without resorting to D. Volume and diameter are not going to give good results on objects that dense, and yes, your way will have gravity appearing to fall off faster than it actually would. Result: starships precipitate from jump space sooner than calculated (at the distance calculated by using the square root).