I'm almost 5'7" barefooted and ride two 29'ers. I find them both a heck of a lot of fun. If I were to choose just one bike it would be an 29'er XC geometry hardtail.
+1
My wife is 5'4" and she is faster on her 29er than she was on her 26" bikes. I asked why she feels she is so much faster on the 29er and she said "the clown bike is way more fun to ride than my old bikes".