I agree with the measurement of height from the floor to your elbow give or take an inch, One other consideration is what you are standing on, a rubber mat or duck board are a lot more comfortable than a concrete floor. So allow for this when setting up your lathe.
At your height you may find that you are better making a custom bench to put your lathe on. We have one customer about your height with a Vicmarc VL300 and he started with the standard stand but finished making a custom stand to help reduce vibration as he found it unstable propped up on blocks.