I'm 5'9" 29" inseam and on the balls of my feet with both on the ground, almost flat footing it. Like a few people have said, a slight shift to the left or right on the seat allows me to easy flat foot it and hold the bike up.
The bike does balance very well vertically at a light and feels very lite even with a full tank. The bike is not heavy to one side or the other.
While on the 4th ride on the bike a week after buying the bike, a mix of fatigue and something else almost made me drop the bike in a parking lot while trying to park. I then seriously considered lowering the bike 3/4 to get flat footed and not wreck the new bike.
I then read (and also knew) that the suspension needs time to settle in and that the bike was probably riding a little high because of the new stiff suspension. I stuck with the bike, set the suspension with a little under 2" sag for the pre-load. A few hundred miles after that I reset the pre-load again and tell you the truth I'm happy that I did not lower the bike. I cannot flat foot it, but almost can.
Being that you are 5'5, chances are that unless you have long legs, you are going to have trouble holding up the bike. You can the very least sit on the bike at the dealer and see how it feels. I believe that some dealers will install lowering links on the bike, but I do not know the cost of it. I believe that its recommended to only go 3/8 (greywolf) because of suspension clearance, but there are links that go lower then that.
I'll see how the rest of the riding season go, I might send the seat here and have it trimmed down a bit..
A few pointers:
1)When parking in a parking lot or spot, try to park nose up. Example, say that a parking spot slops down from where you are. In that case then back into the spot. This way when you leave, the engine power will get you out of there. If the parking spot slopes up from where you are, pull straight in. When leaving let the hill roll you backwards.
Another words, its a real pain in the butt trying to push the bike backwards out of a spot against gravity.
2) When in a situation that you need a couple extra inches to reach the ground (moving it around in the garage or tight spaces) and you need to be flat footed, remove the seat off the bike. Just be careful of the battery and stuff. A rolled up towel makes for a nice temp seat.