gr00vy,
You are quite right. You are a bit on the short side! However, don't let that put you off. As you rightly point out there are a variety of measurements that will determine your 'fitness' to fly, so why don't you go to your nearest AFCO and ask them?
As a rule, I would suggest that 5'6" is about as short as pilots get, but again, some people have long legs and short bodies or vice versa.
As a guideline, if you want to get measured by your Mum/mate/bloke in the street, the measurements that you should have (but don't quote me!) are:
reach - 720mm
sitting height - 865mm
buttock to knee - 560mm
buttock to heel - 1000mm
Good luck with the tape measure!
