When researching K bikes, they're frequently described as tall, sometimes even top heavy. I'm 5'8", and I don't find it tall or top heavy. I believe my seat is a bit shorter than stock, but it certainly isn't as short as the low seat, and I can pretty much flat foot the thing. How much shorter do you want a bike once you got both feet firmly on the ground? I'm actually looking for another taller seat just to improve the seat to peg length.
Maybe it's just expectations. The only other bikes I have owned were tall dual sports (DRZ and XChallenge = 37" seat heights) but they also were 150-200 pounds lighter. I find my K75 a lot more manageable than either of those bikes (which I have dropped several times between them).
Maybe I need to measure myself again. But in the past, whenever I've measured, I'm never any taller (or longer) than before. :-[