I'm 5'7" with a 30" in seam.
Get the low seat, or...
I have the stock seat. I had an upholstery guy dish it out and make it more narrow for $30.00. I ride with a bead rider on top of it for comfort.
You will not be able to flat foot both feet, so get used to it. Practice your Captain Morgan stance at the stop lights.
Don't let some ass-clown talk you in to some sort of lowered suspension either.