I am five foot seven, 38/40 regular. Personally, I prefer solids for more formal occasions. But I think you'd be fine with a stripe. Regarding peak lapels, I've read that some experts think peaks make a man look shorter. Not sure, why. I rather think a peak lapel draws the eye up. At any rate, choose an elegant tie, perhaps a pocket square in a complementary shade, or in white . . . and make certain your shoes are in top condition. Have fun.