Join Date: Feb 2004
Location: St Peters, Missouri
Bikes: Rans Rockst (Retro rocket) Rans Enduro Sport (Retro racket) Catrike 559, Merin Bear Valley (beater bike).
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Just guessing, not having seen either you or the bike, I'd say that's most likely the ideal size for you.
That said, it's often occured to me that using seat tube length as the "rule of thumb" for sizing bikes is mega dumb. Saddle height is the easiest adjustment to make on a bicycle.