OK, Look at this picture below:



It shows me, 5' 5.5" with an inseam of 28.5" on a 47cm Kilo TT Stripper Chrome. The standover is perfect except the top tube is too short.

After a 2 day light tour ride, I swapped out the stem for one which is 120mm increasing comfort and improving the fit especially in the drops. The picture of the bike with the new stem and a new set of tires is below.



Moral of the story? Like the others said earlier, top tube fit is more important than standover. However, many times you can just add a longer stem and achieve a fit (unless your proportions are freakishly beyond average).