Not really true. All the frames I've had and ridden didnt have but a little toe overlap.(i ride a 55cm) Its really only true for the smaller sized frames in my experience but the design of frames can vary I guess.
My wife rides a 51cm Bridgestone NJS and it has quite a bit. She got used to it in a day and she'd never even ridden a 700c bike before this...only shopping bikes and junk down the sidewalk at 4mph.