I live in Plano. Its got great schools if/when you decide to have kids. Housing is definately cheaper here than in california. 200-300k will buy you a damn decent size house like was said earlier in the the thread, but I don't know what size house you are looking at. As far as things to do, there is plenty to do in plano and dallas is only 15-20 minutes up the road as well.
It really is a nice city. Frisco and Allen are nearby as well and and are equally nice but still in the growing stages.
Let me know if have any questions.
Kevin