Welcome to the new and improved Proflex / K2 Tech Forum!
Even with several different MTB's I still ride my EVO the most. It is just a comfortable and predictable ride. I swapped out the stock Noleen rear shock for a Fox Vanilla R just after I got the frame and just recently switched to a six way coil swinger. I think with a stable platform rear shock, the frame is great. I think that the last couple of years for the EVO's the carbon swingarm did have bearings in them although I could very likely be wrong. They were the EVO4's. My bike is an EVO3 with the aluminum swing arm. Current suspension setup is 8.5" i to i with 2.5" stroke to get 6.75" of travel in the back and I just put the 145mm Nixon on the front. I've only test ridden the fork around the neighborhood but I hope to get to a trail sometime this week. Handles well but feels a little tall.
Hey Matno is that Arizona in your picture... I would say the best upgrade I did was Avid mechanical disk brakes and Kenda Nevegal tires... I saved myself $100 and made the disk adapter myself. It bolts on without drilling the frame. I simply shaped a piece on my belt sander to fit tightly into the oval dropout keeps it locked in place.