It depends what you're after. If he's after a proper relationship and commitment - people usually go for personality and things like height are irrelevant. If I met a guy who was 5'2 and perfect for me, I'd consider him.
However, I'm keeping it real, women aesthetically prefer taller guys. If he was very hot, he could sill get girls, but it wouldn't count in his favor.
Just like men seem to prefer large chested women, being flat won't rule you out of things, but people who just go for looks seem to prefer it.
I know, guys will say, shouldn't personality matter the most, just as you said. But the truth is, guys wouldn't choose to date an ugly girl over a pretty girl if given the choice. Or a girl with a boyish body over a sexy-hot body. Same difference. Don't shoot the messenger.
If the girl is taller than you, then its a slim chance because I know most girls are very picky when it comes to height and they prefer guys their height or taller. I'm only 5'0 and I'd date a guy who was 5'2, cause height isn't a big deal to me.