I own a '06 Novato, the v-brake version. I didn't think the disc version came out until 2007? It has been a good ride. I bought it in the fall of 2006 to ride during the winter and I rode it through spring. I haven't ridden it much this summer as I have other nice weather bikes. I'll resume its usage this fall when the weather turns (I live in Central, NY as a reference). Next year I'll probably buy a cross bike like the Specialized Tricross and keep the Novato as a backup. Nothing against the Novato I have just been enjoying more road oriented rigs. Nothing has failed *knocks on wood* and only minor adjustments have been necessary. My one complaint would be the v-brakes. The metal spring that separates the v-brakes has popped out a couple of times. No big deal to put it back, just strange when it happens. The hubs seem strong enough and the wheels have held up well. I have even taken it on some single track, though that isn't something I do with it often.
I put 26 x 1.95 tires on it, Specialized Crossroads to be exact. I had to change the metal fenders that came with the bike for some Planet Bike Freddys to make that fit. I'll probably end up putting some Marathon Pluses on it eventually. Really though, over all it has been a great bike. Good luck with your decision!
-Podolak