Funny you mentioned that - I am the same height as you, and I thought the IF bag was so cute, but not on me. I loved the straps but the triangular shape was so wide on the bottom and I didn't like the side view of the bag on on me when I carried it on my shoulder. But the petite gals here all seem to love it... And the bag looks great on hfxshopgirl...
That is such a tough choice. I have the audra and I love it. I thought about selling it but I just can't let it go b/c I love it too much! I am also 5'2'' and it is not big on me at all.
I just recieved an hh mercer satchel too in black and I love it also. It's different b/c it is not a hobo but the leather is soft and it is so comfortable on the shoulder.
If you want more organization I would go with the satchel, if you're looking for a hobo I say audra but if you can't decide, I would go with both b/c for me they are great additions to my collection!!!