It's been decided; the next bike to come from Milk will be a ferrous-framed 29er.
Won't say more than this just yet; it'll be constructed from some pretty cool steel tubing, the frame will be belt-ready and it'll come available as frame and forks or complete custom builds. The production runs are going to be limited to a yet-to-be-determined (but small) quantity...
Hell, I'm bloody excited out this bike!