"Will standard components work on this bike?"


Yes.

I don't know if Tiagra is hydraulic or not, but I've had mechanical BB7's in the past and hydraulic is much better. Your shifters need to match your brake system of choice and I'm fairly certain there isn't any Shimano 10 speed hydraulic (edit: besides Tiagra) - so my answer would be no. Upgrading to anything that isn't hydraulic would be a waste.

Thanks it is indeed a mechanical system. I will take into consideration what you're saying.