Can't believe I didn't see this thread until now!
Anyway, I grew up in North Raleigh and my parents still live there (I'm back and forth between there and Atlanta). As much as I hate the idea of more yankees moving in, it is a very nice area to live in if you can afford it. (Afford being a relative term if you are considering California, Raleigh is expensive by NC standards IMO).
The job market is largely technology based. The research triangle park is home to a several large technology/computer companies including IBM, Cisco, and Redhat. There is also a big pharmaceutical influence (Glaxo).
Raleigh (and the triangle area as a whole) can be very different based on what part you live in. It has a lot to offer, from the People's Republic of Cary to the "country" living of the undeveloped south east side. Raleigh has no real downtown to speak of, so if night life is what you want then forget about it. If you want a "real city" in NC then Charlotte is a very nice place as well. However, I'm not sure if any city in NC can touch the diversity of Raleigh (and the triangle area). Have you done any research as far as what area you'd consider other than "outside of Raleigh"?
If you've got some specific questions I'd be glad to help you out. You can either PM me or just communicate in this thread. I'll tell you from the start though, I'm biased.
The South is where I grew up and where I want to spend my life. California would be a nice place to visit but you'd have a hard time convincing me to live there. While some say Raleigh is not "The South" because of the large influx of out of towners (thanks IBM), I tend to disagree. Yes there are parts of Raleigh that look like everytown, USA (I avoid Cary like the plague) but if want to find the southern charm it is still there. It's no Alabama but then it never was a deep south state.
That being said, I have done a fair amount of traveling including living outside the country (southeast Asia and most recently spending this summer in Vancouver, Canada) so I'd like to think my opinion is biased by choice, not by ignorance.
-Zach
Edit: I forgot to add, if you are a basketball fan then Raleigh is an easy choice. Tobacco Road as its called is home to the best college basketball in the country.