The FF29 isn't an out and out race frame by any stretch of the imagination (you'd be giving away 2lb in weight in the frame alone to the very lightest carbon HT frame), but it's a highly versatile frame that's stiff and responsive, and covers ground very quickly. It's also built to shrug off the worst a trail might throw at you too, so it's not a bike you need to be careful with.
Frame is designed around a 120mm fork, but can run with 100 for steeper, racier angles.
As for £400? Think you'll be lucky now, couple of online places were selling off the remains of the older colours for about that, but now should just be the 2014 colours in stock most places I'd have thought. If you're in the Midlands, give me a shout... Currently building up a Sync for myself too as our "demo" bike... Can't wait til it's finished!