We are given that \( (a \, o \, b) = a^3 + b^3 \), so we first need to find \( 1 \, o \, 2 \).
Using the given operation:
\[
1 \, o \, 2 = 1^3 + 2^3 = 1 + 8 = 9
\]
Now, we need to find \( 4 \, o \, 9 \):
\[
4 \, o \, 9 = 4^3 + 9^3 = 64 + 729 = 793
\]
Thus, the correct answer is \( 793 \).