I vote for fit over travel. I ended choosing an XXS Pivot Mach 4 because of the fit. I'm excited about not hitting the top bar the way I have been on my too big Specialized when I have to come off the saddle hard & fast. We small women can improve our skills to overcome lack of travel but we can't grow longer legs or torso if we get a bike that's too big.

About climbing, my understanding is that the XC geometry is more conducive to climbing than all mountain geometry.