rando_couche

If you like the "feel" of the Paramount and the fit of the 23" Voyageur, then get a 23" Paramount. Too much is made of the "advantages" of a smaller frame, IMO.

SP
OC, OR

onespeedbiker

Rivendell has has more about sizing than almost anything else; the Readers Digest version is big frames good; small frames bad
Learn About Bikes with Rivendell Bicycle Works

rootboy 

Hunnert percent. A too-small bike is painful. That Paramount is way too small for someone 5' 10, IMO.
Smaller frames were popularized for Criteriums and such. Want to cruise comfortably? Get a frame near the upper limit of your range. If I were 5' 10", I'd probably be on a 58.
2 cents.

dddd

You hit on the one racing-specific frame geometry feature that offers non-racers almost no benefit at all, namely that having the front wheel closer to the bottom bracket allows the rider to either draft closer to the rider in front or to maintain a bigger safety gap, or both.

A Mark Nobilette-framed bike I picked up last week seems to be such an animal, it's a tall 59.5cm C-T, with parallel 73.5-degree angles and a short 56cm toptube.
Not surprisingly, it has a Cinelli 135mm stem extension, to allow the tall rider some reach. And the fork is raked minimally, so that on the first ride my shoe kept hitting the tire in sharp turns!
So here's this ~60cm frame, and the last thing I expected is that the distance from the bottom bracket to the front axle is shorter than on even the shortest couple of 54cm frames that I own!
At least the bike handles very well, and actually fits this 5'9" rider perfectly with that 135mm stem clamping a #64-42 handlebar.

Here's a picture, I paid 180 for it and it has D-A 7400 parts (but for the newer Campag headset and badly-cracked Campagnolo crankset).
I foolishly test-rode the bike for a half-hour with the 1/2"-long crack in the driveside arm near the spider, and it is definitely a racer's machine. I will have to avoid using certain of my cleated shoes to avoid heavy contact with the front tire while cornering at low speeds.