We describe a technique for polarization sensitive optical frequency domain reflectometry (OFDR) that achieves 22 micrometer two-point spatial resolution over 35 meters of optical length with -97 dB sensitivity in a single measurement taking only seconds. We demonstrate OFDR's versatility in both time- and frequency-domain metrology by analyzing a fiber Bragg grating (FBG) in both the spectral and impulse response domains. We also demonstrate how a polarization diversity receiver can be used in an OFDR system to track changes in the polarization state of light propagating through a birefringent component.