I'm from Texas and have lived in Austin for 11 years. I wouldn't live anywhere else in the USA, and I've seen most of it. This city is very, very enjoyable to live in and unfortunately it's not a secret any longer.
That said, please don't move here. It is growing out of control with folks flooding in from the rest of the country.
I meet people every day that just moved here. Traffic is INSANELY bad. Live close to where you will work. I wouldn't recommend living outside of Austin if you work in the city because you may spend more than 2 hours a day in your car. I live downtown and I drive 15 minutes to Westlake to work. I go the opposite direction of rush hour traffic and it works fine. Austin is now the most expensive city in Texas in which to live, because it's so damn popular. But that is still cheaper though than the East or West Coast. I'm going to buy a house in South Austin for $90K-100K in a few months. The average price is about $165K.
I handle much of the programming and IT work for a medium sized, quickly growing Financial Services corporation (current market capitalization ~$1.3 Billion). I do MS web applicaitons development, SQL Server database development, data mining, and some unix shell and database development. I would say the market is picking up noticeably in Austin for the IT industry. We absolutely cannot find qualified .NET programmers right now. If you know any, please send them to me. If you are good, you won't have a problem finding a job here. We just had to hire a replacement project manager from Microsoft in Seattle to supervise us programmers.
I think it goes without saying we are gun friendly here. You can get a CHL for handguns, and long guns can be carried in your car at any time except around schools, etc. Follow the laws and you'll be fine. The University of Texas is one of the best Uni's in the country. It IS the largest, so a university of that size will have some issues that keep it from scoring the highest marks across the board. However, if you apply yourself then you will get an education that is as good as any in this country. The available facilities here simply do not have a rival. We have our own nuclear reactor inside city limits for research, an observatory on campus, a museum that houses a Gutenberg bible, etc. You can do ANYTHING at this university.
As long as you can stand 30 consecutive days of 100 degree weather in August, you'll be fine. AZ is worse in that regard. Spring is blissful though and it is absolutely gorgeous right now.
Of course, if you move here, don't tell us how to do things like it was done back home. We're doing just fine. Unsolicited advice from some hippie refugee from some other state that is now living in mine makes me want to puke more than anything. I'm not saying you will do that at all, but it happens. There is a woman running for city council right now who is from California and got her degree at Princeton. I'm voting against her just for those two reasons. If I want this place to be run like California, I'll move there. Give me a native Texan for elected office who knows our culture and won't ruin this place.
If you do move here, I'm sure that you're the kind of person that we need living here. It is very, very enjoyable for more reasons than I can list in this post. There's just too many.