I am 5'2" tall and have a 26" inseam. I ride a Fuji WSD Finest 1.0 road bike that is 44cm with a 90cm stem. It fits well. My MTB is 37cm and is perhaps a bit too small. If I were to get a custom bike, I would actually need a 46cm. Your inseam makes the most difference in what bike to get.

There is a tiny amount of toe overlap, but I really don't see how it is a real issue for anyone. The only time you notice toe overlap is if you are doing really sharp turns(like 90 degree angles) at a low speed. It is very easy to just put your feet at 12 and 6 o' clock for those rare occasions where you are turning that sharp. It is essentially a nonissue. Having the limited selection of 650c tires is a much bigger issue. Go with the 700 tires if you can.