i was in it for awhile a coupe of years ago. had a giant pistol. an all mountain full suspension bike. not the greatest....but i wasnt competing nor bombing down hills. it served me well. 29ers...some would say are the perfect combo of wheel size to frame....others disagree. theyll roll over bumps easier, but some say not the most nimble. to each his own.
i never got into hydraulic brakes....but again, not bombing down hills. i ran a hayes mx4, front and rear. worked great for me. i couldve used a lower rear gear....but...i managed. just had to put out more huff. i think it had 8 gears in the rear....9 wouldve been good.
the wife sported an older specialized fsr comp. gearing on that bike was better for me. theres a spot here locally to ride. its a little over 11 miles, at least the loop we did was. some decent up hills with some down hills. nothing crazy. another spot a little further south by the coast....el moro, i think....those hills were tough....and long. the loop there was about 15 miles....thereabouts. theres a trail there....you had to be a beast to ride up.
have fun on your bike bro....be safe.