Giant introduces new 2008 Giant Trance X, still no 29ers

It's getting to be that time of year again when bike manufacturers start wooing the press with their latest secret projects straight from the lab. Somehow Singletrack Magazine always seems to be on top of these things.

So the big news from Giant in 2008 is that they filled a hole in their lineup of mountain bikes. Yup, looks like the most exciting thing we can expect next year is the new Giant Trance X. The Trance X is a "trail" bike with 5 inches of travel and sits between the original Trance (with 4.2 inches of travel) and the "all-mountain" Giant Reign.

Now don't get me wrong. This looks like a nice bike. It's got the Maestro suspension design that Giant introduced a few years ago to much fanfare and many favorable reviews, and the reviewer at Singletrack seemed to have a blast riding it.

But I've got to wonder if this is the best Giant can do?

A few years ago Giant made a gutsy move and canceled their contract with Performance Bike. They did this - so the analysis goes - to get out of the low-end compete on price cycling game and move up market. A good move for the long term, I'd say. They began innovating again and the Maestro suspension was an excellent demonstration of such innovation.

One big question remains, however.

Giant, do you have any plans for a 29er lineup? It is simply hard to believe that despite the major bike media's desire to suppress the enthusiasm for this segment of the market, Giant is content to grow their revenue with a business as usual strategy. They must believe that their competitors Cannondale, Trek, and (now even) Specialized are making a strategic blunder adding 29ers to the lineup.

So here are my questions for the readers...

Am I crazy to think that to be a major player in the bike business a 29er lineup is required?

Where do you think Giant stands on the continuum of major players in the bike manufacturing biz?

If you believe, like me, that without a 29er strategy they are on the way out, who will take their place near the top? Kona? Santa Cruz?

Update July 3, 2007: The Dirt Rag blog's got more details on the 2008 Giant lineup for those that are interested.