Do yourself a favor and take it in to a shop to have the bike fitted for you. There's no way a mile of steerer tube and a slammed seat is suitable for you, or for anyone, unless you happen to be riding a beach cruiser.
As for the pedal setup... I have a friend who rides without foot retention and he can skid/skip better than most, but he's been riding fixed for many years now. You should put those straps back on. Better Fred than dead.
Last edited by Higher Class; 01-20-11 at 10:06 AM.