I'm 4'10 1/2, and I just purchased a Giant FCR2 Women's in size XXS. (It's a 2006 leftover--I think it was just waiting for me to walk into the shop!) This road bike has a flat handlebar; there's an OCR Women's model with drop handlebars in XXS as well. The bike store recommended the flat handlebars because of my small hands and previous discomfort even with compact brakes and handlebars. My riding position is very comfortable, as I can be as low as I would be with drop handlebars, but they pulled the brake levers and shifters in closer and for the first time on a road bike, everything is within easy reach. I had them cut off a bit of the handlebar width, too. I'm happy and I don't feel like I've compromised anything--I don't miss the drops. The wheels are 650c, which is appropriate for these proportions, and there's no toe-pedal overlap.