Do you think bike frame size is less important these days?

Id imagine it would be small. I'm 5'7", but relatively short legs (<30"), and I tend to ride the smallest frames alot of manufacturers make.

Have you considered going for 650c wheels, instead of the standard 700c. I'd highly recommend it for someone of your height, as it will help place you over the wheels and not inbetween them (it will also aid standover). This should improve the feel and handling of the bike.

Yeah - thanks for the suggestion but I considered and rejected 650s. I've gone for 700s and a sloping top tube. Others may think it's anti-porn but I've seen the drawings & I'm happy.