Prefontaine was 5'9, 150lb. Herb Lindsey (former US record holder halfmarathon) was also 5'9, 150.
If you are a runner and run a decent amount of mileage (lets say 70 miles a week) and you are 5'6', 147lb then you probably have a lot of muscle mass. If you don't do any weight training the this muscle mass is probably running specific. Meaning that if you lose this muscle mass it would probably hurt your performance. Body fat % is more important than weight. Find a way to get an accurate measurement. At 147 let's say you have 12% body fat. That means you have 129lbs of fat free mass and 18lbs of fat. So for you to get down to 125 you'd have to lose a lot of fat free mass which would mean a lot of muscle mass. It would be better to shoot for just under 140. Drop 9lbs of fat, get down to 5% body fat, you would weigh 138. Of course this is all based on you having 12% body fat. I'm 5'6' 140lbs, and had an hydrostatic weighing test done and they said I had about 9% fat, 128lb fat free mass. I've ran decent times of 1:09:40 for the halfmarathon and 2:33:58 for the marathon so don't let your weight guide your performance ability.
Simple train long and hard and your body will mold itself into it's best competitive shape.
Alan