I am 5'6" and an inseam of 30". I ride a 51 in coventional frame type but in Compact a 51 to 54. Sounds as though it will fit but remember standover height is not the critical fitting measurement. The top tube length will affect reach to the bars and I find that getting on the bike and the bars being the right length from the saddle-Once that has been set up right- is a better indicator of fit.
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How long was I in the army? Five foot seven.
Spike Milligan