More test rides, and a steel option.

[Biciclista]

the Surly long haul does come with 26" tires and 42cm; that ought to work for someone 5 feet tall.

[goldfinch]

I am just short of 4'11" and rode a Salsa Vaya a few days ago in their smallest size. It seemed pretty comfortable, except for the fact that the handbars were hugely wide. I could standover the top bar without a problem.

And the new red color is striking.

[eofelis]

I rode a Surly Pacer for a few years, the smallest, 42cm size. I used it for long road rides, often on rough roads. It's not light and fast but it's extremely comfortable and stable. Great little frame. I only moved on from it when I found a steel Gunnar Sport frame in my size on ebay. I tried a carbon fork on the Pacer, but I liked the steel fork it came with better. I now have that Surly Pacer steel fork on the Gunnar.

The Gunnar is a real luxo sport touring bike. Dreamy ride. I did a 110 mile day on it once, over a 11,500' pass, and I was tired but not beat up at the end of the day. For comparison, I also have a nice carbon fiber road bike, a 2007 Specialized Ruby. Both my Ruby and my Gunnar have Mavic Open Pro wheels, so I can directly compare the frames here. The Ruby is quite a nice ride, but I think the steel is a little nicer. My bf also rides steel. He recently got a IF Steel Crown Jewel and he says it has an amazing ride.

I'm exploring getting a ti road bike frame but I'm worried that it won't ride as nice as a steel bike.

Yeah, I highly recommend a steel bike, especially for a small rider.

[Sky King]

I will also argue that wheels and tires, especially tires are going to make a huge difference in how any bike performs and I am not talking going narrow on the tire either. Schwalbe has a great page about tires and rolling resistance on their website. I encourage everyone to read it.