You can retain the same pedal-saddle distance, but vary the "rotation" of the saddle about the pedal 6:00 position, either high and forward, or low and back. You can take this approach "ad absurdum" and end up with a recumbent.
This position affects the muscle groups you use, and the amount of weight transfered to the bars. Im not sure there is a "right" solution.
The UCI 5cm rule is a bit unfair on smaller riders, who have to move their saddle much farther back, proportionately, than a tall rider.