My wife is 5' 4 1/2 " and just replaced her 2003 Raleigh C40 17" with a 2009 Trek 520 54cm. We used the Raleigh for touring and she just did not like the positioning, said it felt like she was sitting "too" upright. She says the Trek has solved her position issues and the fit feels perfect. She also has a Trek 1000 that is 54cm but she says the position on the new 520 is better. We had to go riding yesterday in the rain because she wanted to ride her new bike so much!