Got a 2010 16" one a few weeks ago from Wheelies. Only been out for 1 ride so far and that was a play around on the Glentress freeride and the Blue.
I got it to replace my 2005 Trance/Revelation U-turn, so my experience is pretty limited.
Day I got it I did a little part swapping/upgrades
Easton Monkeylites
Avid Juicy Carbons
90mm Thompson Stem
SRAM Attack shifters.
X3 with 127mm back and 120mm QR15 front Seems to climb like my old bike (100mm back and front), which is a good thing, don't feel like I've descended anything rough enough to pass comment on it's ability there, but I'm pretty confident I'll like it.
Taking all that into account I think it's still a cracking bike for the money, with a generally well specified package.
IMHO the largest compromise is the wheels. 117s back and front with Alivio rear hub just doesn't feel matched to the rest of the components (Giant Front hub looks pretty cool though).