Yes it fits with the seat up high, I haven't looked to see if it's up to that mark. My leg has a slight bend in it at the bottom stroke like it's supposed to. I can't say it feels too small. I had a 26" BSO for about a week(it was s o bad I took it back) and only rode it a couple of times so can't really compare the two sizes.
Does your bike with 24" wheels fit you? With the pedal at the bottom of the stroke is your leg almost straight? Without extending the seat post above the 'minimum insertion' marking? That's just one rough measure of fitting the person to the bike.