Mountain Biking - What is my bike good for...if anything?

I'm also posting this in the long distance forum in case that's the best place, but here goes:

I have a Novara Method 1.0 mountain bike (some specs here: http://www.rei.com/product/744760/novara-method-10-mountain-bike). This bike is heavy - about 35 lbs I think.

I want to take on some longer races/rides (thinking a 50 next year and a 100 the year after, maybe a 24-hour at some point).

My question is what distance is this bike good for? I know I "could" do any distance on any bike, but what's advisable - a good idea. So the follow up questions are first, would it be worth trying to lighten the bike for these rides (my guess is no). Second, if this bike is no good for any of those distances, I need some suggestions for a LOW COST bike I could pick up on craigslist for these types of rides. Low cost is key here, as I already have 3 bikes, and if I get another one I'll be sleeping on the couch, with the length of time directly proportional to the cost.

Thanks in advance!

As you said, you can use pretty much any bike for whatever kind of riding. Before I bought a road bike, I used a hardtail, no slicks, for 50 mile road rides. And I've seen a guy on a rigid singlespeed at Hall Ranch (figure since you're from Denver that might mean something to you). Now, I'm not about to suggest you take your bike to Keystone, but it will hold up just fine for long rides. Will it be the most efficient ride out there? No, but why don't you make sure you're definitely into these long rides before you go out ad buy a bike specifically for them? Plus that will give you a chance to figure out what characteristics you want in the bike.

My question is what distance is this bike good for?

The question should be, what distance are you good for on that bike? - and of course only you can answer that.

Are you talking about mountain bike rides or road rides? It is obviously a poor choice for doing long distance road rides. If we're talking long mountain bike rides, then it is perfectly adequate. The most important thing for long distance off road rides is comfort. Proper bike setup is crucial so that you don't add to the amount of suffering involved. If you wanted to lighten the bike up, the best place to save weight is in the wheels (physics calculations show that saving a pound on a wheel is worth a pound and a half on the frame since the frame is only moving forward while the wheel is moving forward and rotating). Good light wheels can be expensive, so you'll have to keep an eye out for deals. Also, folding (kevlar) bead tires can save a significant amount of weight over steel bead tires.

You're good for however far you want, I ride a good bit of "XC" on a 45 pound, 7 inch freeride bike (though I do a good bit of fairly burly stuff) because its what I have, and before I had that bike I did a lot of "freeride" stuff on what was technically an XC bike. My point is, ride what you want to ride regardless of what your bike was designed for (though the XC bike for freeride has potential to go very bad, I just got lucky).

The question should be, what distance are you good for on that bike? - and of course only you can answer that.

Ride til you puke! hahah