2nd generation Arizona native, I've got to say that aside from being a little tired of the color brown and cacti, it's a pretty darn good place to live. Especially if you can swing a cabin up north for the summer's and a place in the Phoenix area for the rest of the year.
Great cost of living, great people, little to no weather issues, wide open spaces, ocean a few hours away, good job selection, several highly rated school districts, beautiful northern Arizona woods for hiking and camping, plenty of lakes, all the big sports teams.