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The reach is decent on the smaller model, a lots of manufacturer tend to be lazy and not fix that (resulting in the reach feel as long as the bigger model, Specialized is a prime example of this).
Trek is also very good at this, so is Canyon.
Best thing about the Cannondale is that the women CAAD10 can also fit very well without compromising the race geometry (44cm is even smaller).
Can't wait to add my 48cm CAAD10 to the mix here. Tiny bikes FTW. Interestingly I think Cannondale are one of a small minority of good frame builders who make bikes for small people which is why you see a lot of small ones.