I just purchased a 44cm Redline 925, and I'm 5'7" tall. I'm proportional, and not short legged. I feel very comfortable with the top tube length and the angle I'm on when I'm out on the bull horns.
I have a bit of toe overlap though. If I would have purchased the 48cm, I don't think I'd have any overlap. I did fit the 48, and could have adjusted things for it to fit me better, but the top tube was lightly thouching my package, so I went for the smaller bike.
I'd rather have the 48cm now just for the longer wheelbase, and a slightly less sloping top tube.