54" is a lil small IMO, but a lot of people big and small like a smaller frame for a more compact ride/tighter wheelbase for their city fixy/SS, I guess Im just old fashined lol - a rider should fit their bike and vice versa.... I also am a big fan of steel frames, but to each his own. And my only other exception would be the carbon forks, I like the look of a steel fork (and the stiffer feel) on the road over carbon, and steel is stronger (Im 6' 1", and 225 lbs give or take, so strength becomes a concern for me). Ive seen some...errr...catastrophic failures without much prodding from carbon. I know there are some really good, strong carbon forks out there, but I just cant trust em. Call me crazy...
In general though, getting any bike back on its wheels and under someone is a good thing, so go for it!

