I built a 14" 456 up for my 5' 4" girlfriend and it was spot on. I used an old Rev U Turn fork which had about 200mm of steerer and that gave it a high enough front end to suit a woman…170 cranks, 90mm 10 degree rise stem, cut down Hi rise bars and I used a 20mm layback post which I fully intended to change for a straight post but it seemed to suit exactly so we left it.
We did get the chainsuck issues which loads of other folk have suffered with these frames (smaller ones???) but that Brant puts down to operator error. Strangely the operator never had any problems on any of the other bikes she has ever ridden!! We seem to have partialy solved that by using a longer bb axle (113 and 115 didn't cut it so we went to 118 and it seemed better) and by her being ultra careful with gear changes. Despite that problem the overall experience has been good.
Not that she's my girlfriend anymore….. but there you go. It was still good.