In the UK, toe clip overlap is not permitted on manufactured bikes (but is on custom bikes).
For fast road racing it is not a problem,since you can't rotate the bars that much at speed. For controling the bike at slower speeds it is a problem. It is difficult to do track stands and slow technical sections with overlap, and it prevents you from fitting fenders.
The 53cm Nova frame has a 53cm top tube, and 73.5 head tube angle. This is pretty standard geometry, so it may not be built to those specs. It could be that they have just raised the bottom bracket from their standard road bike without figuring out the consequences, which is a stupid thing to do.
What size cranks are you riding and what shoe size are you? Are you using clipless pedals (properly positioned?) or toe-clips (what size?)
Check out the US consumer legislation and get this sorted out. There is no excuse for it on a mid-sized bike.
Let us know how you get on.
Last edited by MichaelW; 07-05-02 at 06:00 PM.