Cy was kind enough to let me have a long (7hr+) demo ride in the Peaks on one last year.
I loved it, and one is on the shopping list for 2013. (It helps that I'm a spot on fit for a medium Cotic)
It's a slack, 150mm travel bike, so it goes downhill pretty damn well, as you'd expect. It feels fairly pert/non wallowy until you hit something big, which it just deals with, and it's easy to pop off trail features. Handled exacty the way I expected it too - just jumped on and rode it, really.
Uphill - awesome. It just climbed tech stuff brilliantly. You won't win an XC race on it, but if you want to clear that gnadgery climb you've never quite made, this will help. Very neutral feel - no nasty pedal/suspension issues, but LOADS of traction and the front end was light enough to move round when needed, but not wandery. I was genuinely surprised how easily I got up a couple of sections I've only ever cleaned once before after many attempts.
It's a very solid feeling frame - made my Uzzi VP feel positively noodly, and it tracks very well in corners. (caveat - I only weigh 140lb, so not the sternest test ever!)
The one I demoed (the orange one that got nicked from STW) was a hair under 31lb with a sensible, but not overly fancy (3x10 speed) trail build. So not featherweight, but not fragile either. (for comparison my Uzzi is 36lb, my BFe is 30 and the SOs Hemlock is 29lb with some light wheels and tyres on).