Another vertically challenged rider here (just over 5'). Have really struggled to get a road bike with a short enough top tube. I obviously needed 650 wheels - but even many of the bikes w/ 650 wheels were too long. I had a very short Cannondale (now for sale) in polished aluminium in about a 44cm which fitted me very well - but I hankered after titanium . . .

I am now the proud owner of a Serotta Fierte TI 46p (second hand ebay purchase) - which also has a very short top tube (I think about 48.5cm). Both bikes fit me really well - can't agree more with the person who said fit is everything. I also got FSA wing pro bars in compact which have a very shallow reach & drop. Then I double shimmed my ultegra sti levers to bring the levers really close to my hands. My the hoops we short girls have to jump through . . .

Smaller wheels are great - more aerodynamic, lighter, stronger . . . that's why triathletes & time triallists used them for a while (not sure why they went off them - might have been a lack of tyre choice?)