The fit is near perfect for my athletic 5'3" size. No issues with sleeve lengths and the jacket will go well with office attire.
I've wore it in light rain/drizzle and the water just beaded on the garment, so it passed the test for light use, but I can't say how it'll perform in heavy rain.
The fabric is quite stretchy and the color is very black, which is a good thing. I can wear a sweater or blazer with it, I'm sure, as the fit leaves enough space for it. The pockets are practical and spacious.
Under 5'10 may not have the most variety out there in terms of colors, but as someone who shops at the other two popular short guy stores, it is my opinion that neither one of them does sizing or taper on pants better than these guys. It seems that applies to their jackets, as well.