Hello, I've just bought my first on a limited budget as well, after trying many, many Full Susp MTB.....I went with Cannondale's 2004 model Jekyll 400. It rode better than all of the other bikes I've tried and has better front and rear shocks for the price range than the others (I think).
Those that I tried being Trek's 2003 Fuel 80 (a rear triangle that WILL eventually break), Specialized 2003 Rockhopper FSR Comp (great components but terrible suspension bob and saddle), Giant's 2004 NRS (not a bad bike but not as nice of a ride), Cannondale's 2003 Jekyll 400 (not a bad bike but not as nice of a ride with the coil spring rear shock).
For a first timer and for the money, I think the '04 Jekyll is the way to go. Like the Specialized, the hubs are setup for disc brakes if and when you may want to upgrade. It adds a little weight now but will save you big later. Also, the rear shock on the 400 is now air with a lock-out and rebound adjustment (not much bob here).
All I can say is, TEST RIDE AS MANY AS POSSIBLE! Also, take my comments and apply them to your test riding experiences and buy what fits you. Recommendations are great but everybodies different.
Good Luck!