I picked up an '06 Cake 1 DLX about a month ago. I've had it on many rides on a variety of trails. So far, I'm extremely pleased. It took me a few rides to dial in the suspension, but now I've got it right where I like it. The only thing I've changed from stock parts are the saddle and the tires. The saddle just wasn't the right shape for me, so I swapped it with a Terry Fly Ti. The Jones ACX tires were decent, but just wouldn't hold an edge on sharp turns or on off-camber trails, plus they packed with mud pretty easily. I put on some Continental Vertical Pro tires, and I'm runnung them tubeless with Stan's.
Overall, I'd say Fisher finally got the Cake right. The bearing problem was fixed (I believe they added a third bearing on the drive side of the pivot). The parts spec is great, and it's a been a perfect trail bike with no mechanical problems, and no chain suck issues at all. The Swinger shock and the Fox Float 130 XTT fork eliminate any unwanted bob on climbs, and hard pedaling on flats. The suspension works well when you need it. The only negative thing I can really say is that like any single pivot bike, you still get a little brake jack from time to time.
By the way, it weighed in at 28 pounds (medium) on the shop scale. not bad for a 5" travel trail bike!