I'm 5'3-1/2". I'm suffering from top-tube length troubles on my road bike (a 54 cm Trek 1000). I'm not looking for a new bike, but hey, you never know!
Karen
What's your inseam? I'm 5'1 - and my bikes are either 47/48 cm with a compact geometry or the surly frame I just bought is 43 cm. My inseam's about 29 inches.
A 54 cm bike seems awfully big for your height - but maybe if that bike has really sloping compact geometry?