c_m_shooter

Once you get the saddle set with your knee over pedal spindle as others recommended, why don't you post another picture? I have heard that when your cockpit length is in the ballpark your upper arms will be at a 90 degree angle from your torso with your hands on the hoods and elbows relaxed. You look like you will need a shorter stem, but lets see how it looks once the saddle is set a little better.

CommuterRun

Here is what Sheldon Brown has to say about frame size:
https://sheldonbrown.com/frame-sizing.html

Here is what he has to say about the knee-over-pedal system:
https://sheldonbrown.com/kops.html

It still looks to me like the real answer to Bigdufstuff's question is riding posture.

gear

Not bent enough at the waist; your sitting upright. Bend forward and unlock the elbows.

tarwheel 

I am your height and I ride size 57 frames. I used to have a 57 Bianchi, and it fit me fine. Your frame doesn't look too big to me, but you probably need to make some adjustments. You should start by making sure your saddle is the correct height, so that you knees are slightly bent with the pedal at the lowest position (6 o'clock). Then move your saddle forward or back so your knees are properly positioned over over the pedals. This is called the KOPS position for knee over pedal spindle -- and essentially you should be able to drop a plumb line straight down from you knee cap to the pedal spindle when your knee is at the 3 o'clock position (or forwardmost) position. KOPS is a starting point, and some people find that they cycle better with their knees slightly behind or in front, but you should try to keep with 1-2 cm of KOPS. Finally, if you still feel too stretched out, try raising your handlebars (which will shorter your reach) or get a stem with a shorter reach. If you feel too cramped, you can lower your handlebars or get a longer stem. Here's a link I found with a diagram illustrating KOPS:

https://us.commercial.lifefitness.com...E-007-02.q.pdf

RomSpaceKnight

Fit and feel are everything. I actually kept my bars, grips and saddle from old bike and put them on new bike while trying to replicate my cockpit dimensions.

sean000

After you get your saddle positioned properly, you might find that this stem is too long (in reach) and too short (in quill length). I have the same problem with my old Pinarello racing bike from the late 80s. Back then I was perfectly comfortable riding in a more aggressive position, but today I can only take it for an hour or two. These days I prefer having the handlebars raised closer to seat height (which will also bring the bars closer to the seat). Most stems don't have long enough quills for that, but you could try a Nitto Technomic as someone else already mentioned. The 190mm quill length lets you raise the bars higher than most stems, and you can also get it with a shorter reach... like 7 or 8 cm instead of 10cm. It might make all the difference, and is an inexpensive part.

Sean

DVC45

What do you used to ride before this roadbike?
I remember when I switched from MTB to Road bike, the "feel" wasn't right either and thought that the road bike I have, was too big for me. But the bike shop (I did not buy the bike from them) said its really the size for me (5'7", bike is 52cm). I just kept on using it and with few adjustments, all is well now. Just something to consider.

Play with the saddle, stem and handlebar position and ride it for awhile (20mi?). If there are aches and pains after the ride, then its probably not the right size.

Read this bike fitting article too.
https://peterwhitecycles.com/fitting.htm