I am a bit over 5'5" and just purchased a ruby. The first bike I looked at was Felt T23

http://www.feltracing.com/06/06_triathlon/t23/


it is listed as a tri bike, but actually straddles the line between road and tri bikes. We tried to get it to fit, but no matter what we did, the reach was still too long for me. I guess I am a leggy 5'5" (what an oxymoron) because the wsd put me in a much more comfortable position. The geometry is almost identical to the Vita Multisport, which like the t23 is supposed to be good for road racing or tri's. I am planning to do some spint tri's and my first international distance, in addition to some long bike rides. I do not know enough about doing an Iron Man to comment upon the ruby's suitability for such an event.