Denise, I'm also about 5'7" with more torso than legs. What I got recently was a 49cm Lemond which is considerably more comfortable to me than our son's 50cm Trek Pilot. It's a function of vertical height (legs) and cross bar length (torso comfort).
If I remember the conversion correctly, the 20in frame is about 50 cm.
Get the best you can afford. But for me, I'd go with the "best fit" for your body because you're going to enjoy it so much that you'll be riding it more than you think. 6 months ago, I couldn't do 10 miles without heaving and now I'm averaging 70 to 100 miles/week and shooting for my first century tomorrow.
If you don't grow where you're planted, you'll never BLOOM - Will Rogers