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oh dear, well I'm looking at a 2003 one now!
It does have very good clearance though, from pics of other builds it is a 26" wheelsize frame but all the builds have huge tyres and still a good inch of so of clearance, again I'm only going from pics.
The bike was designed for 125mm forks on a 26" wheel, If I drop to 100mm and can get a 27.5 rim in there should I go for a more moderate tyre?
In 2007 an MTB frame would have been designed for 26" wheels. Or perhaps 29", but then it would be unlikely to have 26" on now.
27.5" wheels can fit in some 26" frames, but only if they had particularly big clearance - tyres and rims were narrow back then. Or maybe if you're doing a road conversion.