Yes, I really liked it.
The frame came with a new fork, but without any components, so I had to either use the 11 year old components from the F700 or buy new ones.
Even though the frame was ready for disc brakes, I stuck with the V-brakes. Looking back I would probably get disc brakes, but the technology was quite new still back then and very expensive. I did get tubeless wheels though. Also quite new tech then.
What I didn't notice right away, was that the geometry changed quite a lot in those years. It is most obvious if you compare stem length. The F700 had a 13cm stem vs a 7cm sem on the F500. All in all I did never really get used to it. It felt too large. So after a few years of enjoying cycling a little less, I sold the frameset and got a new one.
The Flash came equipped with Avid Elixir R disc brakes and Lefty-specific DT Swiss wheels.
For shifting I got SRAM X9/X0 gear. After using Shimano XTR in various generations, this felt... well, how can I put this... horrid.
The SRAM gear felt pretty plasticky, shifting needed too much force and the action wasn't smooth. Shifting itself was ok in the rear and below average in the front.
The frame and fork are awesome. The carbon frame feels stiff yet smooth over uneven terrain and the Lefty fork is something else entirely. At first it feels awkward, but once you get over the false idea everything should be symmetric, this fork rides amazing.
Quickly thereafter followed by wheels. I did feel that the DT Swiss ones weren't as laterally stiff as I would like and I wanted to ride tubeless.
I also changed the crankset. I didn't like the looks of the shiny Afterburners so I got these carbon Truvativ XO cranks. Yes, these are SRAM, but I don't hold any grudge against the brand. I just really disliked the shifting.