I recently got a P7 (S).
Hated it at first, brakes constantly binding with a piston in each caliper siezed and the system full of air; v. annoying slipping seatpost; headset rusted up solid after a couple of wet rides...
Happily I have sorted each of the above (spent another £60 in the process - on a brand new bike !), and now I can honestly say I would not change it for anything else.
Fantastic grip and handling on singletrack - it can just keep going quicker until you can't pedal any faster - it never seems to reach a speed where it feels ready to let go.
Loads of scope for adjustment to the ride position with the u-turn forks and the lock-out is a god-send for tarmac to/from trails. Sliding drop-outs are rock-solid so far. I have to agree with the BB being slightly low, I have clipped the odd pedal here and there, but I guess that's also a big part of the whole grip and handling thing.
A great all-round bike which is exactly what I wanted, but if you have other rides available, ultimately the weight might be a big negative for dedicated xc use. You don't feel it when you're on it, but it is incredibly heavy, and the laws of physics imply that you are dragging all that weight around everywhere you ride.
Nice colour though !