I’ve got one, an 853 steel frame which I built up into a custom spec bike, from 2008. Not that a huge amount has changed until the 2011 model so I understand.
Anyway, I love it! Not sure I’d chose it as an endurance XC and Marathon race bike if I could only have one bike (I’d have a lightweight full sus like a Giant Anthem X for that kind of thing, or indeed, my Maverick Durance!), but for an allround trail riding bike, it’s hard to beat. It’s very much like a Cotic Soul, but without the cache I suppose, similar geometry, same material, very nearly the same weight.
Lack of replaceable dropout isn’t so much an issue, it’s steel, you can repair it if needs be. But run a new skool Shimano rear Shadow style rear mech, and you’re never likely to bend a mech hanger anyway.
I’ve got mine built up with 130mm Revelations (probably going to shorten them to 120mm, this seems about ideal for the frame), Hope Pro2’s on Stans 355’s, SLX/XT mix, Easton Carbon Bars, Thomson Stem and Post etc. So as you can see, reasonably light, but all very strong kit. It comes in at about 26lb including pedals, with relatively light tyres on. I could lose 2-3lb if I threw money at it I’m sure, but I want to ride this bike, not mince on it if you get me!
Highly recommended bike though. For longer, all day or marathon type stuff I’d always chose a full sus out of preference, but for shorter sub 4 hour kind of rides, the Genesis is king.