I have logged a lot of miles on a hardtail converted for gravel. 38x11 as my biggest gear. I really don't spin out much in the rolling hills of the midwest, but in bigger terrain with long, straight descents I would run out of gears. 38x11 will get you over 30mph at 90 rpm, so I'm usually resting my legs at that point. The biggest issue I have with a mtb on gravel is that it is much stiffer than a drop bar bike designed for gravel. The rigid mtb fork is stiffer, the frame is stiffer, and the bars are stiffer. Consequently, it beats me up on chunky surfaces more than a true gravel bike would. I used to have a steel cross bike before gravel bikes existed, and it was much more forgiving than my hardtail. I'm currently building a dedicated steel gravel bike for this very reason.