K2 used to make good bikes. Their new ones are junk, if they even still make them. Luckily about 03-04 is when they started to go downhill. I think they were bought out by another company around then. The frame on that bike is made (I think) by Trek, which is a good sign.

I remember seeing a lot of K2 bikes out there (previously they were called Pro-Flex, then K2 bought them out) and a lot of people liked them. If it fits you correctly, you should be very happy with it.

Now, if I can just find a bike I want to buy...