Hi Karla,
I own a 1986 First 26 (similar to the 29) and absolutely love the boat! You'll see that the First's are built stout and smartly, and are easy to work on. I have the fin keel version and she sails fast and points very well. She's not tender but rather light, and will accelerate quickly even in lighter winds. But the stick demands respect and will let you know when over-canvased. I have a 135 headsail that is good up till about 15 knots, and furl it down to a 110 in higher winds.
Here is a video I took during the one of my club races, you can see how competitive the boat can sail... and also what happens when there is too much headsail (on the upwind leg).
https://www.youtube.com/watch?v=6R-vZ7u3HOw
The cabin is laid out to be very roomy and can probably sleep 4 or maybe even 5. The wood is very classy and everything seems to be of high quality. The only complaints I have are that the cabin has very little natural ventilation. The 29 might have more ports, but my 26 is like an oven in the Florida sun. Also, I don't think the windows are a good design. The lexan tends to crack around the screws. The screws themselves tend to pull out, and they do leak rather easily. I have yet to re-bed the windows and have been getting by with some silicone sealant.
Here is a video of how I installed an air-conditioner in my 26:
https://www.youtube.com/watch?v=OX93NEyJ0Yw
Best of luck!
-Dave