G-mac, I've got myself a Specialized Stumpjumper Expert M4 and absolutely love it.
Best of both worlds really, lock out the back Fox Float susp if you want a hardtail and lock out the superb Fox Float forks if you're climbing etc.
I bought the frame and forks on their own and put the best of gear that i could afford around them; XTR gear and XT Deore levers/hyd brakes, Sun rims and the best offroad tyres you can get imho Panaracer Trailraker.
As for pedals with cleats....YES,YES,YES.....they make such a difference to your cycling efficiency. You just need to get used to ejecting yourself from them when taking a fall.... .
Here's a few quick pics of my ride: