Disregard the low seat height that everyone touts about Cruisers. Plenty of short female riders I know favour things like the Bandit and cope perfectly well. One did have to have her Bandit lowered, but that's because she's 4' 8"!!
My other half is 5' 4" and rides a 650 Dragstar (or V-Star in the US). That seems pretty heavy at 230KG, but very managable once you're used to it. The Virago is about as powerful, but considerably lighter. The weight on Cruisers is also much lower than other bikes.
What you really need to be concerned about with Cruisers is the distance from the seat to the foot controls and whether your little legs can reach easily.
Having said that, the Virago is indeed an excellent match for you. The controls are possibly the closest going. It's also pretty powerful and should top out at around 92MPH. It will do everything you need, is nippy enough for town, powerful enough to haul luggage on a touring holiday and comfy enough for the long hauls.
The standard fuel tank is only about 8 litres, but you can get a 13 litre one.
If you do go for the Virago, take good care of it. The price drops with age, as do all bikes, but the Virago reaches a set low and stays there. It will not depreciate further, so long as it's in good nick.
In summary - An excellent bike and a fantastic choice for you lovely petite lady bikers!!