I think it can handle some pretty nasty stuff, but I don't think it's fun. I'd rather ride a MTB over technical stuff.
What I ended up doing is I have a cyclocross (Specialized Tricross Comp) that I use for road riding, commuting, hard packed trails/rail beds and of course cyclocross. I have a 29er that I use for off road stuff, but even that I don't do highly technical stuff. Mainly just XC type stuff.
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