I'm with doc on this one.

Toe overlap on a road-bike is a virtual non-issue. Think about how you corner on a road bike; you LEAN 90% if the time. If you are "turning" with your handlebars, it's time to get on the wheel of seasoned rider and really learn how to corner. Physics=a beautiful thing.

The 650c bikes are great for the truely tiny (say 5ft or less) but at 5'2" you can avoid a lot of hassles( e.g. gear ratios, tire selection) by going with a standard 700c wheel.