I've been living in Albuquerque since last April, and I've really enjoyed it.
The city has a great climate, which is incredibly advantageous if you enjoy outdoor activities. The Sandia Mountains offer great hiking trails and some skiing (but most people go to Taos or Santa Fe for that). People here definitely take advantage of the weather and scenery, as you will always see people running, walking, and cycling.
There's plenty to do in Albuquerque as well. The downtown area is still up and coming, but there are countless great restaurants, bars, breweries, etc throughout the city. I think the most popular areas tend to be close to the University of New Mexico and the Uptown/Midtown areas. Albuquerque is also rich in history. The North Valley and Old Town area are perfect examples of this (there are some great museums in the Old Town area). There are also several nice music venues throughout the city.
The two biggest concerns with the city are crime and education. While I do not have any children, I lived in New Mexico for a few years back when I was in high school, and the school systems are incredibly ineffective. And it doesn't appear as though much has improved. Consequently, several families have moved their children to private schools or have started homeschooling. Crime is relatively common, but I've found that it's concentrated within certain sections of the city. Thankfully, I have not had an encounter with this, but I'm fully aware that it frequently takes place. I imagine Abq is much like any city in these respects.
I hope that this has been somewhat helpful. While improvements are needed in terms of public education and crime rates in certain sections of the city, Albuquerque, overall, has been a great place to live. The city is bursting with culture, and its character and charm make this city very unique.
