It does look like a pretty good deal, based on the MSRP. Here are some reviews:
http://www.mtbr.com/reviews/2004_ful...t_122988.shtml
Compare the component spec's at this site with the one you are actually looking at. They might be different years or the LBS might have swaped a few components around (which is fine, as long as you know what you are buying).
At a glance, I'd say the bike would probably work quite well for you based on how you described the way you want to ride. If you really get into mtn biking and want to get hardcore with some heavy-duty off-road, you could move up from there.
I saw a Ram 2.0 at the LBS. I think it was priced around $475 as a yr-end deal. Looked pretty good to me for that kind of $$$.