I grew up there. Moved 30 miles south in 97', but still visit twice a week due to friends/family/doctors. I would stay away from the south side of town except for food. There's some good places to eat around the "Old Town" area, but watch out for people trying to made a quick buck on a newbee. Try to stay North of Indian School and east of San Pedro, or west of Rio Grande. Unless you like rural living in which case the North valley has quite a few good neighborhoods. The main problem with Rio Rancho/west side is the traffic is the pits crossing the river twice a day.
David