Are Raleigh frames pretty big?
 

Went to a bike shop and I loved the looks of the International and Grand Prix Raleigh frames. A steel lugged frame is exactly what I'm looking for. But when I go to the Raleigh site, even their smallest sized bike seems really big, with a top tube length of 54cm. Am I missing something? I check other brands and they seem to offer much tighter geometry even at a similar center to center measurements. Posting my fit measurements in case I maybe measure wrong:
Measurements
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Inseam: 74
Trunk: 61
Forearm: 31
Arm: 58
Thigh: 55
Lower Leg: 50
Sternal Notch: 135
Total Body Height: 167


The Competitive Fit (cm)
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Seat tube range c-c: 47.9 - 48.4
Seat tube range c-t: 49.4 - 49.9
Top tube length: 51.0 - 51.4
Stem Length: 10.2 - 10.8
BB-Saddle Position: 65.5 - 67.5
Saddle-Handlebar: 47.5 - 48.1
Saddle Setback: 2.2 - 2.6


The Eddy Fit (cm)
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Seat tube range c-c: 49.1 - 49.6
Seat tube range c-t: 50.6 - 51.1
Top tube length: 51.0 - 51.4
Stem Length: 9.1 - 9.7
BB-Saddle Position: 64.7 - 66.7
Saddle-Handlebar: 48.3 - 48.9
Saddle Setback: 3.4 - 3.8


The French Fit (cm)
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Seat tube range c-c: 50.8 - 51.3
Seat tube range c-t: 52.3 - 52.8
Top tube length: 52.2 - 52.6
Stem Length: 9.3 - 9.9
BB-Saddle Position: 63.0 - 65.0
Saddle-Handlebar: 50.0 - 50.6
Saddle Setback: 2.9 - 3.3

what you're really asking is, do Raleigh frames have proportionally long top tubes.
the bike does look nice, but is made in a fairly narrow range of sizes.

Are the frame measurements (French, Eddy, Competitive) from some sizing system? You don't say what they are.

I suspect, at your height (5' 5.5") you'd probably be okay on the 53cm with 54cm top tube, as long as you have sufficient standover. maybe go with a 70mm or 80mm stem.

No this isn't going to work. Inseam listed at 74 cm and standover is 77 cm. obviously needs a smaller size which isn't offered in this model. It is one thing to buy too small a bike, but to big is just a disaster.