MissKaz,
Here is a 44cm Kilo with 700c wheels:
I agree with the others who have said toe overlap will be a significant issue.
I ride a 47cm and it is a perfect size for me with 28.75" inseam. Even at 47cm I feel 700c looks a bit big.
(ignored the stem height, I was experimenting)
I recommend that you go with the Fuji 650c not only for appearance, but rather performance:
- the wheels are sized more proportionately to the frame size yielding a more balanced feel
- the wheels will accelerate slightly better
- smaller wheels means lower standover height
- smaller wheels reduces the severity of toe overlap.