I say "new bike", I've had my Cannondale Trail SL 29er 3R since September 2012. After seeing a thread on the Singletrack forum about how this bike can be had for a bargainous price, I decided I'd try this 29er thing out for myself.
I paid £420 for the bike as shown below.
At £420 I feel it's great value. Yes, it's rigid and singlespeed but the spec is decent. The frame and forks are the same as those models further up the range. The costs are reduced by having no gears. The biggest price/quality compromise in my mind is the brakeset - Cannondale branded by Promax. The levers were too flexible and stopping power wasn't great.
Since I've had the bike I've changed the saddle to an SDG Bel Air (personal preference), upgraded the brakeset and swapped to a wider bar. Next to change will be the Kenda Small Block 8 tyres. They're fast but I would prefer a grippier tyre and deal with the increased rolling resistance. The gearing is currently 32-16, the bike is sold 32-18. I'm still experimenting with the gearing.
Since this is my first 29er and the only 29er I've ever ridden I can't compare it to any other bike. There is a noticeable difference with the larger wheel; there is no doubt they roll better than smaller wheels. Cornering takes a little to get used to, but this is partly due to geometry not wholly wheel size.
If you're looking to try 29ers and are thinking of joining the "niche" rigid singlespeed 29er lot then consider this bike.