I'm 5' 7" ~135lbs
My custom road bike (Dean) is 49cm (c-c) which would be equal to a 51/52cm (c-t) depending on manufacturer. My TT length is 51.5cm with a 13cm stem. The distance between the front tip of the saddle to center of handlebars is 53cm. I use a setback seatpost. There is about 5-6 inches of seatpost showing. The fork rake is 4.4cm. The wheelbase is 96.5cm.
My new custom track bike (Andante) is 49cm (c-c). The TT length is a little under 53cm with a 11cm stem. With a setback seatpost the distance between tip of saddle and center of handlebars is 53cm. Same amount of seatpost showing. (I will be experimenting with a no-setback seatpost and 12cm stem.) The fork rake is 4.4cm. The wheelbase is 98.5cm. (Use is mostly for commuting, occassional velodrome.)
Most custom framebuilders will design a frameset around a TT length of Xcm and 12cm stem for proper reach. This allows for +- adjustments of 1cm without affecting steering and front end handling.
I would not ride a bike with a stem shorter than 11cm or longer than 13cm. This tells me the frame is either too big or too small or designed with the wrong geometry.
Once you go custom you never go back.