What kind of components are on it? Dura-ace?

If it is indeed a waterford paramount you should be able to get a lot of money for it. Is the seatpost down so low because that's the only way you can ride it?

Sell it to someone who will appreciate it with gears on it and it fits. And use the money to buy a nice real track bike (that fits you). Then everyone will be happy.

You're close to SF right? You could sell it on craigslist.