I ride with no hands all the time. I routinely ride half of the 10 mile commute home with no hands and have ridden the entire eight miles from here in Logan to Mendon with no hands on a dare. I should also mention that it's against the traffic code here and if anything happens while I'm doing it, I get the ticket and not the driver pulling out in front of me.

I own six bikes and the pure xc hardtail, the fair weather cyclocross commuter, and the foul weather tourer commuter are all a piece of cake to ride with no hands. The road racer is too squirrely below about 18-20 mph and the other two mountain bikes are hyperstable. Once you get them going straight you can't get them to turn and once you get them turning, you can't get them to stop.