This bike appears to have Phil Wood hubs. At least the front one. And I don't see any rust on the steel piece that connects the flanges. Buy it now!

If it doesn't fit you can always do something. If it does fit you have a nice frame and good wheels. Find a crank and a sealed bearing bottom bracket. I would think this would be English. Stem, handlebars, brake levers and seat. These will be personal choices anyway.

Of the top of my head, I would think that a woman of 5'-5" would fit this bike. But people come in all different proportions so giving correct answer will be difficult.