Thank you all for the replies.

Well after long and hard thinking, browsing the internet, mtbreview.com and checking out bikes at stores, I decided that the best value for my money was the 2001 Specialized Rockhopper A1 Comp Disc. It was more than what I felt I should pay for my first mountain bike, but it seemed to be a steal for $699.

The bike appears indeed incredibly equipped for that price: Shimano Deore shifters and derailleurs, Mavic X223 rims, and Magura Julie hydraulic disc brakes (that was actually a surprise to me as the showroom model has Hayes mechanical disc brakes)

Yet, I think I am going to return the bike.

As hard as it is to fathom, I think the bike is too nice for me and what I intend to use it for. There are also a few things that bother me about the bike:
- I am 6'3. The salesperson advised that I get a 21" frame. However I am used to riding BMX bike and to riding something relatively nimble. The bike feels too tall and I am afraid that it will not be easy to maneuver in rough terrain.
- The colors of the bike are too flashy and showy for me. I want a bike that is more subtle in its appearance
- I do not feel confident with my ability to maintain and service hydraulic brakes. I would rather have mechanical disc brakes which I feel completely capable of maintaining

In summary, I think I am going to return the bike tomorrow for a refund, and buy a Marin Hawk Hill for $525 instead. I will probably get a 18.5".

Thanks again,
Nicolas