South Tampa is expensive as **** - overpriced if you ask me, unless you just insist on being in the middle of things downtown. But even then, downtown Tampa is not like a super-happening place with lots of daytime activities and a happening nightlife.
I agree on needing to live on the same side of the bay that you work in. Hell, a big reason the Rays attendance is so ****ty is that the morons originally located it on the wrong side of the bay. St. Pete is old people and poor people. The younger crowd and the family crowd live on the Tampa side (plus the Orlando crowd is only 45 minutes away) and the trip across the bay is too much on a typical afternoon after work for most to bother making (time, traffic). Just an example of how journeying across the bay can be more of a pain in the ass that it might appear on a map. I had to do it quite a bit for my job, so I know.
Traffic is a pain everywhere, get used to piss-poor planning and design by FDOT.
Pretty much everywhere seems to be exploding growth-wise. Stay out of Seminole Heights and "East Tampa" - crime, etc. Stay out of Pasco County - white trash heaven.
And just remember - Florida is the state that's brought the world Casey Anthony, George Zimmerman, the white-trash preacher who wanted to burn the Koran for his own publicity reasons, and on and on. Be prepared for humidity that makes it unenjoyable to be outside if you're not on the water; no landscape features at all for hiking or biking or anything else; public schools bad enough that my teacher wife wants to send our son to private school; and white trash overload.