I don't have a lot of experience with Trek bikes, but I do hear good things about them.

I had a look at the components and I will say this: decent frame, great fork (I love my Reba), I'm also a big fan of Bontrager (the stem, handlebars, seatpost, etc).
For this amount of money, I would have loved to see a drivetrain that was a little better (SRAM X7 will do just fine, but the Deore derailleur is a little cheap) and I think Trek should have opted for the Avid Elixir 5's, at least. In other words: the brakes would be first on my list to upgrade, drivetrain second.

All in all, not too shabby! Have fun