You are at the extreme size limit for the use of large 700c wheels. Basically, to fit these wheels and medium sizwed cranks into a frame, the designer has to make the frame long. Even if the frame is low, it may still be too long for you.
A much better solution is a bike with 26" MTb wheels. You can fit a good , fast road tyre to this rim. The problem is then finding a bike using MTB wheels that is light, agile and practical.
Terry Susan B
is the best general purpose bike for smaller women and it is rideable by smaller men as well. The are not cheap but they hold their used value much better than other bikes.
The jamis Coda sport femme is a good option with a short Top tube.
To compare size, look at the manufacturers geometry chart for Top Tube or virtual/effective TT. Designers can shorten the TT at either end but generally they shorten at the saddle end and alter the angle of the seat tube. You really have to try one out for size.
Last edited by MichaelW; 12-13-11 at 12:14 PM.