You need to take a pic where your arms are by your side, in your undies, with no shirt on. THEN do the mock-up..
In long pants you do look okay. But like DIFM stated, what happens when you wear shorts? Are you going to end up being insecure about wearing anything but jeans and a shirt?
If I was in your position, this is what I'd do; lengthen to 5"6 and wear 5cm lifts. The lifts will take you to 5"8.. By doing this, you have the choice to go to the beach in your board shorts and look great.. Having a night out on the town or going to the mall? Whack the lifts on with your jeans and shirt and look acceptable.
.. Or hit 5'7 and be satisfied.
Either way, 5'8 is a little out of your realm if you want to look normal with little clothing on.