Depends on whether you want a Super Shrew or Scout with the longer riser or a Classic Hunter or Lil Favorite with the shorter riser. In the short riser bows, a 56" is plenty and a 54" may work for you depending on your draw length. I have a 56" Classic Hunter and will have a 54" soon, so I will know more how the 2 inches affects me at my 29 1/2" draw length. I know that the 56" is great for me, and BobW says it is perfect at his 32" draw length. I don't know too much about the longer riser bows, but the comments by Matty are probably accurate for the Super Shrew and the Scout. In case you don't know, the Scout and the Lil Favorite are the recurve models, and the Super Shrew and Classic Hunter are the longbow models.
I have a couple of Shrews, with another one on the way and two more on order. They are great bows. Since Gregg Coffey only makes about 80 a year now and has only made about 250 total, there are not a lot of them in circulation. People who own them like them and don't sell them very often. The Shrew is not the only great bow out there, but it is certainly one of the best! You won't be sorry if you buy one. Call up Ron LaClair and order one. I recommend the Classic Hunter. If you call today you will probably get it in time for at least some of next year's hunting season. Also, the bows look great if that means anything to you -- it does to me. Even though you have to wait a year, you can pick out the materials you like in the bow and get exactly what you want; and besides that, the bow is well worth the wait. You might want to think about the getting a Bow Bolt if you like the convenience of a takedown bow for travel. Other than the expense and some limitations on the materials that can be used in the riser, there is no disadvantage in having the Bow Bolt, and it sure is handy.
Allan
Allan