Yeah, ATX is really nice, but the long term outlook is terrible. There's no space for real expansion of the infrastructure, and that's only going to continue to get worse with all the people now moving here. The general culture is great, but I probably wouldn't want to work here after graduating.
I used to live in the San Diego area though, it's amazing that you can get literally double the house here in Austin compared to the California markets. But between earning a bit more, and having much better beaches on the west coast, it's alright, living costs be damned.
You should definitely post more for someone who's been around for 3+ years though!
Have you fellas ever been to The Alamo Drafthouse? I've always wanted to go there. Actually Austin is one of my top wannabe places to visit in U.S.