Lowracer? No. Medium racer? Sort of... Closer to a high racer, really.
I put the conversion onto a frame very similar to that one, envisaging it as a stepping stone to something far lower. I was trying to get the seat as low as possible on that type of frame, and that meant moving it as far backwards as possible. Results:
- Moving the seat backwards brings the bottom bracket up: good for aero, giving a more 'racer' position!
- Reclining the seat far back then means your hands are a bit far from the handlebars, unless your handlebar grips move aft of the steerer tube. I found that this felt less stable.
It's not the prettiest recumbent. However, it was a great 'taster' in moving-bottom-bracket FWD, it was easy to learn on, it was stable, it pulled well up hills, it was surprisingly capable on rough surfaces, and it was a cheap way to find out that what I really wanted was a recumbent mountain bike!
I think you'd struggle to find a Y-frame mountain bike that would give you a lower seat than your lady's frame. However, the V2/K frame will put the seat lower still. Ultimately, if you want to go low with a Cruzbike, you'll just have to either make your own frame (which some have done!) or buy a Vendetta. BUT: have you ridden low-racer recumbents before? Yes, you get a benefit in top-end speed, but as motorbike designers will tell you, the handling/control is actually better when your weight is higher up, especially on loose surfaces. Also, you're more noticeable to cars...
I did find that, with the steep top tube of the lady's frame, even with the seat base tilted as far forwards as possible, the front edge of the seat dug into the thighs a little on long rides. On the V2/K frame, I find I have the seat base tilted as far BACK as possible, and it's just right! However, your top tube looks a little shallower than mine was.
The lady's-bike conversion:
http://picasaweb.google.co.uk/novelappraoch/NOIAmNOTCold#5469285066209639282
http://picasaweb.google.co.uk/novelappraoch/NOIAmNOTCold#5469284468330128130
http://www.cruzbike.com/forums/viewtopic.php?f=13&t=1581&p=10165
And the new version, in 'London commuter' mode (for the next three weeks!)
http://www.cruzbike.com/forums/viewtopic.php?f=9&t=2520&start=10
I don't know how fast you want to go, but NOBODY has overtaken me on that bike yet! (but I only have a 10/15-minute cycle to work: I can practically sprint all the way)
Hope that helps?
Alex[/]