I don't like the coat. It reminds me of X-Men Origins: Wolverine, where Liev Schreiber as Victor Creed actually did get big and muscular, but then spent the entire movie walking around in this black trenchcoat where you couldn't even tell how much muscles he had under it.
(disclaimer: no I'm not comparing TDKR to Wolverine, or assuming Bane is gonna wear the coat the whole movie, since we see him sleeveless in the teaser trailer)
Hardy is definitely wearing heeled boots, and it seems to me that he looks taller than he actually is in those pics. Also, the comment about the camera angles makes me wonder if they're just filming him from below to make him appear taller. I guess the final test will be when he and Bale are in the same shot and an equivalent distance from the camera.
I generally completely agree with those who say that capturing a character's personality is more important than looking exactly like him. I really don't care that Michael Caine's Alfred doesn't have a moustache, or that Harvey Dent was blond, because whether Alfred does or doesn't have a moustache and the color of Dent's hair are not essential parts of their character. I was nonplussed when I found out The Joker had a Chelsea grin and makeup instead of permawhite, but the end result was still an approximation of his appearance from the comics. He wore a purple suit, he had a white face, and he had green hair. Ledger's performance was perfect.
But I can't agree with those who say Bane's muscles don't matter, only his personality does. Let's not kid ourselves that Ledger's Joker would have felt like The Joker if he had a normal face and blond hair and ran around in a T-shirt and jeans, even if he acted like The Joker. The Joker's white face and green hair are iconic aspects of the character, and so is Bane being big and muscular.
A Bane who is shorter than Batman just would not look right, to me. There's no way around it. From what we've seen of Hardy so far, he's no more built than Bale is as Batman, maybe less.