Just to let you know the 44cm Specialized is the equivalent of the Trek 47cm.

I'm 5'0" and currently ride a 47cm Trek 2000 men's bike. I've also looked at different bikes and from what I've seen many companies do not make small enough bikes for shorter people in general. When I do get a new bike I'm planning on getting a Trek Madone in whichever version comes in a men's 47cm.