High tensile steel is a very, very low end frame material. It is usually found on Huffy and CCM brands of hardware store bikes, I am surprised that Trek even offers a high tensile steel model.
Any halfway decent steel mountain bike frame uses Cromoly. The more expensive the frame, the more butting and improved welding techniques they use.
The problem with high tensile steel is it tends to bend or flex quite easily. Now, with moderate riding on tame trails, it is not like it is going to snap in half on you or anything like that, but what you will notice is around the welds and at the ends of tubes, the flexing will crack the pain very quickly, and the paint will start to flake away. And everyone knows what happends to bare steel. Rust. Take a look at most high tensile steel bikes a couple years after they were bought, rust around all the frame joints.
The other thing you will really notice with a high tensile steel frame is the drop-outs, rear derailleur hanger, seat stays and chain stays are quite soft. As you ride the bike over a couple years, you will start to notice your rear shifting becomes sloppy. Chances are your rear triangle will be bent slightly out of alignment making it impossible to adjust your rear derailleur to give crisp shifting.
Trek does honor its' lifetime frame warrenty if it snaps in half on you, but I doubt they will replace a frame that is slightly bent out of shape from normal riding. Ditch this frame as soon as you have the funds to upgrade.
Cheers,
Juba