I had a Trek 7000 small frame and it seemed so big to me and I'm 5'4". I really didn't like the ride, the components they seemed cheesy to me.

Have you looked at Specialized? They make a really small frame for women or at least they did 4 years ago when I was looking. I know a couple of women who got Specialized bikes and really liked the fit.

Best way to decide is to test ride everything you can. Happy hunting!

Kate