Mark1978 wrote:I may well be too late for a 50cm , but then I don't feel that the bike is too big, aside from the issue of the hoods being too far away. I doubt they would swap my bike out in any case...
You don't need a 50cm, Mark, and in any event the top tube is shortened on that size by the undesirable characteristics of a slacker head angle (which makes it handle like a tourer, not like a road bike as it is supposed to) and an even steeper seat angle (see all the discussion above) The head tube is also shorter leaving the bars 10mm lower, which would not be a good thing for you, I suspect.
The fact is the reach on your bike is just about as short as it can be without introducing other, perhaps worse, compromises such as toe overlap (clipping the front wheel with your toes) or a very upright ride for those of average proportions, which after all isn't what a road bike is supposed to have.
The two things you can do to reduce reach which don't affect the handling, ride, and purpose of a road bike are shorter stem, whcih you're already on the case on, or shorter throw bars. The reach from tops to hoods has generally lessened in modern designs but still varies quite widely, and there are some very short reach designs on the market, which effectively could shorten your reach by another 20mm if your bars are a standard design. This is a more expensive, and more involved task, but is worth considering if you still feel very uncomfortable with the shorter stem.
Above all, I think you should persist, and make tweaks. For your height, a 52cm road bike is about right and the Madone is a good road bike with typical modern geometry, and not the most aggressive position. I suspect, from looking at your saddle to bar drop on a smaller size frame that you have relatively long legs for your height, and consequently a relatively short torso which puts the bars a little bit further away. But reach differences between frames are small, and modifications are straightforward and often necessary to get a comfortable position. And the position you are comfortable with will change. I am not young, or flexible, or fit, and I didn't find drops comfortable at first. I used upright and short stems but higher mileages, more weight on the pedals, and core muscles which just built up gradually over time, all mean my position is now a lot longer, and lower, and no less comfortable. I own fourteen stems, and several lovely bikes which fit beautifully, but I'm still tweaking.
Hope the new stem helps and you start enjoying your new bike soon.