Not the lowest seat height, I think about 28-29in. I have mine raised a bit in the back and my friend who is maybe 5'5" rides it just fine. It's a great bike, easy to work on, bulletproof, and does just about everything. I've taken mine on dirt bikes tracks in the mountains and did my 40 mile commute for 6 years on it.
It's not super exciting, but it's a great bike and can usually be found pretty cheap, in the $1k-$1500 range. Parts are decently available, I've never had any problems. Quite a few crossover parts to other yamahas and to Polaris actually.
You can get them cheap if it has out of tuned or gunked up carbs. Pretty easy to to clean them up and tune them right (the guy that runs my forum will actually do it all for you for a ridiculously low price, just mail them to him).
Easy to mod too if you so choose. I've modded the crap out of mine.
2002 DL1000: 60k miles. Bought at 50k miles.