Well, believe it or not, I've read this whole thread, and there are some interesting annecdotes and testimonials.
I'd like to say that it's disappointing that J-MAT (is he still around?) didn't respond to this link which was posted ages ago --
http://www.bsn.com/Cycling/cranks.html -- because I think it provides the most balanced discussion on the topic. And, depite J-MAT's claims, some riders do switch back to 175s after trying 180s. There's a former Olympian down here named Rob Crowe who did that, and he's 6ft 3"!!
I have an 89.5cm inseam, and I'm 182cm tall.
I was on 170mm cranks for a few years after I believed a sudden switch from 170s to 175 caused some suprapatellar bursitis (I'm still not sure if the cranks were the cause). At the start of this year I worked up the courage to try some 175s, which I did for a few months, then, after reading everything I could find on proportional crank length theories, I now have 180mm cranks.
I'm still not sure what is the correct length for me.
These are a couple of my perceptions of the cranks so far:
I've had the 180s now for about 4 months, and I'm still not sure if I'm faster on flat roads. I'm positive that climbing out of the saddle with longer cranks provides me with the extra leverage of the longer arms, because I'm not restricted by being in the fixed, seated position.
When I had the 175s, I was already in a pretty high and forward postion, so when I got the 180s, I basically had to drop the seat 5mm. I'm not sure if this lowering of the saddle has countered the benefits of the extra leverage.
I believe that the "you can't spin a longer crank" argument is a bogus if we're talking about a difference of only 5mm to 10mm, because we have gears!! Simple.
Man, some of the stuff I read made me think I'd be riding a windmill.
Very long cranks (over 200mm) and track sprinting are different stories, but grinding around in a club race with an extra 5mm is not gunna kill your spin.