I'm no expert either, but here are the two things I see:
I agree that it doesn't look like the frame is too big for you. You really don't look stretched out to me. But you're the one who has to ride it.
I don't think your saddle is too high, I think your crankarms are too long. Yes, at the bottom of the pedal stroke your knee is very straight and you're pointing your toes, which isn't good. But the other knee, at the top of the pedal stroke, is bent very deeply, which isn't good either. That's a classic picture of a too-long crank, which is something I really zero in on because it's a big issue for me. Considering your height vs. the nominal frame size, it's very likely that a complete bike would ship with a crank that's too long for you. My 50 cm Synapse shipped with 170mm cranks, and I had to swap them out for 165s, which are the longest ones I can ride.
Also, it looks like your handlebars could be too wide for you. That might be responsible for at least some of your hand pain. Your wrists are breaking to the inside on both hand positions in your picture. You want to be able to keep your wrists as straight as possible.
Pretty bike. Hope you can get the fit issues sorted.
(Also, +1 on helmet and gloves, yes even in the parking lot when you're only riding the bike 100 feet so someone can take pictures. I got a lecture about that from my mechanic last year, and I deserved it. It only takes a moment of inattention or distraction for you to fall, and that can happen any time, and when it does, bicycles usually throw you onto your head and/or your hands.)
Last edited by OakLeaf; 05-01-2012 at 11:09 AM.
Speed comes from what you put behind you. - Judi Ketteler