I'm 6'4" with a 37" bicycle inseam (36" in trousers) a 62cm bike works just fine for me, I've thought about going smaller since my current top-tube is only a 59cm c-c and the seat tube is 62cm.
The geometry changes as you change size though, and also varies between brands. I'd recommend getting fit by a professional bike fitter before buying, they'd point you in the best direction for your size.
Let's face it, once you are over 6 feet tall, no two of us are proportioned the same.
If you're looking for an old steel bike, you should be fairly theft proof by riding a jumbo-jet sized frame.