Damn dude... I think that was one of the longest posts I've ever read on here. =) Must have taken you awhile to type all that.
And yes, you are absolutely correct on all of your points. I also work in the telecom industry (MCI WorldCom), and yes, there are an abundance of opportunities here in this area. I work in the Infomart near downtown, and in that building alone there are MANY opportunities. =) As far as the housing thing goes, GENERALLY speaking, anything above or below the 635 loop are going to be approx. the same. There are of course exceptions to that. Plano/Richardson being one. That is a major telecom area. My brother in law lives in Plano, and his house really wasn't all that expensive. It really all depends on what you want. There are always deals to be had. But in general, that area is a bit higher when it comes to real estate. I live in Lewisville, and I'm kinda partial to it.
Everyone will have an opinion to give on the whole thing, so good old fashioned research is gonna be your best bet. Good luck man, and I hope your decision making doesn't keep you up too many nights. =)
PS: Sorry I wasn't able to meet ya on your last trip, wasn't a great week for that sorta thing for me. I think you said in your other post that you might be coming back, so maybe next time...