ok, update time. 2 and a bit hours bike fit session - extremely useful and informative. I ended up with the M frame, rather than the M/L and with the stem at 110mm, rather than the stock 100.
Could have told you that on day one. No offence like. When you've done a few good rides and spent some time in the saddle you can make little tweeks, but by then you'll probably know what to do.
All sorted in time for the snow and ice 
Oldgit - none taken. Your info on the post was really useful in that i had a lot more knowledge than i would otherwise have had so could see where the fit session was going. No substitute for experience ! cheers again. Iain
ianc - great news your LBS did the swap for you, the Giant comapact frames do seem to come up a bit large 
Your new Medium looks right now (well it will do when you loose the spacers 
)
Thanks gab - your info on the other thread helped a lot. I'm much happier with the M frame. Spacers - yep, going through the bike fit suggested I could gradually lose a few of them, but one step at a time 
currently dithering on spacing out my Time pedals Q measure to avoid crank scuffage with overshoes 
don't want to rub off the Ultegra writing !
Anyway, I went from 110->120 on my road bike last year. I found it much better for descending - more stable, better turn in. Probably to do with more weight over the front wheel.
this is essentially what i did, went from a 100 to 130mm stem after my bike fit, after complaining endlessly that the thing didn't handle right when descending, and now it handles great, all to do with weight distribution. Have the same setup on my new road bike, but yet to test properly as i've only riden 7miles so far!
It must be a good looking bike, because no one has commented on the fact that you have committed the ultimate road bike sin and taken a photo of it with the chain on the inner chain ring 0/10
hah
after I took the pic I realised that the rear tyre logo wasn't lined up so sorted it, much to the annoyance of the wife and kids who were watching a dvd at the time ! never noticed the chain...
Bike certainly looks better proportioned than the M/L. Hope you like the handling as much. Small changes in stem length won't count for much. And now you can really slam the stem, which seems very popular here on STW.
dj - thanks, and it does certainly look better indeed. It was good that I had the opportunity to change it. Despite peer pressure the stem will stay put for a bit. I may follow Rule #45 and put one of the 5mm spacers up top though
Prob cost you 40 watts that!!!!
Mudsux you sir are a legend!!!!! Love that!!!
Yeah,GJP and he needs to get those tyres rotated on t'rims an all, valve stems to t'bottom labels to t'top come on lad ,spent all that brass an nah t'job dunt look reight for ha'porth o tar ! He he, nice bike by the way.
I can see a spacer dropping me 80 watts easily, below a certain point my lower spine gives way and it's all I can do to walk let alone cycle 
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