So, I thought an update may be necessary. Probably not though....
I have been giving much thought to this topic and have fielded and read a few words of well spoken advice. Thus, I have arrived at the conclusion that heel height is not always that important. I have come to believe, in fact, that what is important is not so much what is worn but how it is worn. I would argue that one can appear equally as elegant in flats as a pair of 5"/12cm heels. Take today's outfit for example. I was wearing a maroon turtleneck, khaki dress pants, and brown Miz Mooz (brand) 3.5" heeled oxfords. The colors matched perfectly and I accented the outfit with a warm colored short scarf, 15mm rose gold hoop earrings, and a brown belt. Overall, I thought the outfit was gorgeous and reflected a sense of elevated style - simple but well matched pieces. Compare this to the previous day's outfit which consisted of a black/grey/white color block long sleeve shirt, a knee length black skirt (BTW - my first time wearing a skirt to the office!) and a wonderful pair of almond toe, black knee high harness boots with a 1" heel. Again, simple but well coordinated pieces. Although the two outfits were very different in tone and appearance, they both displayed a sophisticated and professional style. I felt equally comfortable in both. Tomorrow evening I am attending a small reception for the opening of an art exhibit for which I will be wearing a black/white sweater, black pants, and black leather loafers, along with a black Spanish Beret (made in Spain but found and purchased in Ghent last April). Once again, simple and elegant.
I suppose the point to all of this is that, although heels are wonderful and I will continue to wear them as often as possible, one does not always need to wear the highest heel possible in order to display a sense of style, class, and elegance should that be the desired look. One can have great style in very low heels (e.g. kitten heels) or even flats provided that the outfit with which they are worn is of the same caliber. To me, I believe classic styling of shoe/boot and outfit has always spoke loudly about a person as much as current trends; classic styling will never go out of style as far as I am concerned. Thus, low heels can be just as alluring as a 5"/12cm stiletto; black kitten heel pumps/slingbacks will always be supremely elegant regardless of how tastes and styles change or fade. If I had to provide an example of such, I would say look no further than Kate Middleton (or Jackie Kennedy) as she can make flip-flops or house slippers elegant.
So, in essence, the height of the heel is not as important when compared to how it is worn. Flat is not necessarily boring and very high is not necessarily "trashy."