Actually it is my size because I have no torso, my legs go up to my chin.
because of this I spent 2 decades on bikes too big, and to make it worse I thought I was a 56 but kept ending up with 58s. I foolishly preferred too long of a top tube to a low head tube, because at first too long seems better than too low at the front.
I got this 54cm bike 11 months ago now, had just started single speed a few months before. [briefly had a 56cm steamroller that was more like a 58, and a 58cm fuji feather.
at first the drop bar that came with the felt was way too low [I had risers on both previous bikes], so I put a riser on the felt, and it was a revelation. Suddenly i could acutally turn smoothly. over the last year I kept lowering the riser bar and just tried drops. I thought I would hate them and only put them on cuz I want to race and will be forced to use them, but I ended up liking them, they work my skinny arms more.
Part of the reason it handles so well is the head angle and low rake fork, which I why I find the massive toe overlap a challenge rather than a problem.
Good eye on the chain! I wasnt sure but figured probably a bit snug,
edit: 165 cranks, may try 160 Rotors next.