Originally Posted by iansmash
I'll be honest, I'm no kind of cycling expert, but I'm just saying that generally if you can get on the saddle with a foot on the ground, you're probably not going to be in a good riding position. Maybe i'm wrong, maybe not.
I have my saddle raised up according to the rule of thumb that if your heel in on the pedal while pedaling, your leg should be straight. I've also adjusted this a little according to riding experience. From the saddle, I have to bend my ankles completely down to just get the point of my toes to touch the ground, and this is on a conversion with a BB drop of 70. If you're on a bike with a lower BB drop, then it's going to be even harder to touch the ground from the saddle. So, your "rule" is a bit misleading.
Fitting onto a larger bike was also the fit trend awhile ago, hence the "fistful of seatpost" saying. Now it's all about cramming onto as small of a bike as possible. It's just the trend. A bike a size too small can fit with a longer stem and seatpost and a bike a size too big can fit with a shorter stem and seatpost. As long as the bike is close to your fit you should be fine.
Also, everyone fits a little different. Telling people that they don't fit their bike over the internet is a bit dishonest. I'm 5'7", and my bike is a 50cm with a 120mm stem, which makes it sound like I probably have the seatpost jacked up, but it's actually only about 5 inches up. Fits me perfectly, and I like the way the bike handles with the longer stem.
tl;dr version: OP go to a bike shop to get fit, ride a friend's bike, or measure your bod and plug it into a online fit calculator to get an estimate. No one here knows you or has seen you and you're bike. We are guessing at best.