If I'm reading your post correctly, you're only 5' tall - that's very petite. Chances are you're going to be better fit on a WSD (Women's Specific Design) frame. These have shorter top tubes, proportionally, narrower handlebars, shorter cranks (sometimes), short-reach brake levers (sometime), etc. If you do a search in this forum on WSD, you'll find a lot of posts. You're probably going to want to try frames in the 43-44 cm range to begin with. It can be hard to find little frames like that to test ride, unfortunately, so you might have to call/visit many bike shops. Do try to test ride bikes, though; that's the only way of knowing which size and geometry suits you.
Just for comparison sake, I am 5'2.5" with a 28.5" inseam and ride a 44 or 46 cm frame. If you have a long inseam for your height, you might take as large a bike as a 47 cm WSD, but that's still smaller than the smallest standard "unisex" sized road bike. Those normally start at 48 cm. I don't know much about the newer "compact" frames, but I do know that they come in sizes like XS, S, M, L, etc, so you might fit an XXS or XS in a compact.
Welcome and good luck!
Emily
Emily
2011 Jamis Dakar XC "Toto" - Selle Italia Ldy Gel Flow
2007 Trek Pilot 5.0 WSD "Gloria" - Selle Italia Diva Gel Flow
2004 Bike Friday Petite Pocket Crusoe - Selle Italia Diva Gel Flow