I used to ride a 23" or ~57cm frames on vintage Fuji and Peugeot bikes with 27" wheels. The Fuji If began to feel too large (mainly standover height) when I got back into more regular cycling after retirement. Couple that with the 27" wheels WITHOUT hook bead rims, it was getting harder to find good tires< i figured 700c would help a bit also. I bought a new steel framed bike with a sized 55cm frame and a moderately sloping top tube. The big bike shops kept nudging me to a 52-53cm frame, but I felt cramped with my head too far forward. Finally a shop said to come in with my current (old) bike, saw the level height saddle and handlebars, and immediately said a 55 was more appropriate. They said to come back and they could do a stem swap if I needed a bit more or less, but it was dead on..
I had lost a small amount of leg length due to flat(ter) feet and knee wear, but mainly in the torso from back and disk wear. I went from 5'9.5" at 23 (when I bought the Fuji) to 5"8" at age 63. Periods of sedentary employment and weight gains did not help. I do find drops to be very comforting and my back feels great after a ride due to the forward leaning position After rides the next morning is back pain free.
As I am probably an exception - not many ride the same bike in roughly the same configuration for 43 years, so your experience may vary. I just liked the Fuji, with its classic look of glossy black custom paint with chromed fork ends and chromed rear stays with silver Sugino, Nitto, and a few Campy components it was an original. In fact last week I finally found the elusive Mafac brakes and Suntour Cyclone RD that it had for roughly half its life.
Last edited by Bill in VA; 02-24-20 at 01:31 PM.