You are talking about swapping 650c/700c wheels (and tweaking brake reach)? Or a 650c bike v 700c bike? There's quite a bit of discussion on this forum about 650c, tailored to smaller women more than triathletes (fit v aero focus). The most recent research I've seen is noted by a Terry post (you'll find a link to it down the page in this thread).
In terms of ride, I find 650 amazingly direct and contained, but that reflects fit/weight distribution/geometry differences as well as wheel size. Cadence will be taken care of by your gearing - either multiple gears or your choice of chainring and cog if fixed/ss. Are you thinking of touring? Most people touring wouldn't choose 650c for touring, because tyres and tubes won't be easily sourced off the beaten track. For expedition use, most people go 26in.