As someone who's lived in the Austin area for the past 15 years, I can tell you that while Austin is a great place to live, it is overrated in some aspects.
People always talk about how bad the traffic is, but you don't actually realize HOW bad it is. I-35 through downtown has not changed since it was built, with the exception of an elevated stretch of highway. The freeway system is probably about 10 years behind the growth of the metro area, and the new-ish toll roads, while nice, aren't used as much as they were projected (especially SH 130 which is off to the east of the metro area, was supposed to be the road for semis but it costs way too much for them).
Also, Austin has a horrible mess that is mass transit. Bus service and commuter rail... That's it. And the commuter rail doesn't even go anywhere, and a low number of people use it (like 3,000 a day I think).
As for other aspects of Austin, like the "weirdness"... Well, Austin has definitely lost its weirdness over the past few years, but that was bound to happen as more and more people moved here.
However... it's still a fantastic city, they have a great park system and hike & bike trail, and the food trailers aren't bad either.
