The problem with lower end bikes, even Giant/Trek/Specialized/Cannondale, is that they load a nice looking frame with absolute crap drivechains. That Giant frame is probably very reliable and you can probably upgrade components over time should you need to. I'd definitely replace the chain first adn foremost to a Shimano chain. I've had nothing but bad luck with KMC chains, personally. I've noticed this most lately as i shopped for a new hardtail to add to the stable for XC. So, what did I do to meet the requirements of my budget for a second meduim component range bike? I did the unthinkable. I ordered one from Motobecane. For around $1,000, it came equipped with XT/XTR drivetrain components (albeit a cheap chain), Elixer CR disc brakes with a 160 mm rotor and Ritchey seat/bars/stem. Oh, and a 351 U-turn Rockshox fork (130mm adjustable travel).
At first I was really weary of this move, but the bike is surprising well built, responsive and the geometry is good for what it's suppose to do. Hell, the front fork, disc brake system and drive train alone bought independently was more than the entire bike.
Otherwise, if a budget is really keeping you from those $1,000 - up range bikes, it looks OK for intermediate riding and commuting.