+1 on steel and potentially custom . . .

My first road bike was steel and made custom for a lady with similar measurements to mine. It was so light and responsive! Unfortunately it took a ride without me one day. Next bike is also steel, but a stock Rodriguez. They started making/stocking smaller frame sizes based on all the fit data they've collected over the years.

Rodriguez has lots of frame options for shorter riders (www.rodcycle.com), and they have a nice long-distance test-ride program, too. If you need custom they only add on $200.

Don't know where you are, but there are some excellent frame builders in the Seattle area. I'm sure if you did a search some threads would pop up regarding people's experiences with them.

I understand Terry also has a good test program, if you can't find a Terry dealer in your area.

Good luck!