I'm 5' even and all of my bikes up till now have always been 700's (I ride a 44cm). I don't have a toe overlap problem on any of my bikes no matter what the wheel size, but I do have quite small feet. I just built up a new bike that I won that came as a 650 bike and not looking a gift horse as they say, I went with it. Today was my first real ride and I can't say I really notice much difference. The fit and feel are suprisingly similar to my other bikes, and as far as road feel - this new one is titanium and it is quite smooth - no road buzz and very dampened bumps. I don't notice any handling issues good or bad. Overall it was quite comfy. For overall ease of access to tubes/tires/wheel changes when racing the 700 is definitely better and my carbon bike, I think, will continue to be my main race bike, but I'll definitely use the 650 ti bike over the winter and for crits that I might not want to risk my carbon one in.