Well, I'm only 5'7, but all the binders are more than long enough for me. When I'm all adjusted in the XS double front, it ends about an inch or so below the bend of my hip joint in the front, so I have to fold it up about an inch to keep it from rolling up when I walk. So it's way below my belt line. I don't see it really being too short for anyone to tuck in, unless you have a really big belly or something, probably not the case if you're getting an XS.
I haven't tried the 988, btw. But the length should be about the same - it's been the same on most every model I've tried - and I think the compression is about the same as the 997 since it's basically a truncated double front with an extra length of non-binding fabric attached. As far as the compression, it seems to do a fine enough job for me, as these things go...I won't actually be happy with how my chest looks until it's surgically fixed, but the XS double front gives me a look that's vaguely tolerable.