Hi, this is my first post here, I have followed and read the entire post, and I have finally received my FM 936 frame this week.
Concerning the shock stroke question, I have measure a length around 122 or 123 mm eye to eye for full compression (when there is contact with the seatube). So it corresponds exactly to a 42.5 mm stroke. Thus, it does not sound very safe to use such a stroke, since in case of bottom out with some mud on the seat tube or frame deformation it will hit the seat tube.
I have also measured the actual travel, it is indeed around 100 mm (vertical) for 40 mm stroke.
Moreover, frame weight in size L, normal layup is 2.095 kg including rear axle.
Finish quality is very, very good. Geometry seems accurate, in particular I have measured the front center around 800 mm which is what I am looking for. The seat tube is indeed very steep, I was hoping that the actual angle for my saddle height (800 mm on top of saddle) would allow me to use a normal seatpost, but I think I will need a setback seatpost (I like to have the nose of the saddle around 8 cm behind the BB).