My Rivendell is 52cm, and has actually 559 wheels (like mtb 26"s). Part of the iconoclastic charm of a Grant Peterson bike--he says you have to have those size wheels to avoid toe overlap and also have room for fenders.
Yeah, it is kind of a cult
I've not had another good road bike, so I have no basis for comparison, but it's always felt just great to me.
One downside is that I have to carry my own tubes, and it was a chore to find tires that were 25s (Continental Gran Prix makes them).
The bicycle is the most civilized conveyance known to man. Other forms of transport grow daily more nightmarish. Only the bicycle remains pure in heart. ~Iris Murdoch, The Red and the Green