KSB - I lived in Phoenix from '91-'94 and can maybe provide a little insight.
The cost of living isn't too bad. Housing is cheaper than in NE Ohio. Not necessarily the friendliest place (maybe due to the transistory nature of the population). Most house have the backyards fenced off by 6 ft tall concrete blocks. That was something that this born and raised Ohioan never adjusted to.
The weather is pretty good too. You will find that 105 is pretty comfortable but come the end of July and August the humidity does go up a bit (they call it the monsoon season) and it is rather oppressive. Also, 115-120 is hot no matter if it is a "dry" heat. It is still fucking hot! The winter brings temps in the 60's and 70's and believe me it will seem chilly. Maybe not your first winter but by your 3rd winter, it will seem chilly.
The culture is neat. There is obviously a fairly large Hispanic population, which thanks to that I learned to truly appreciate and celebrate Cinco de Mayo. There is obviously much influence from the Native American cultures.
My wife and I enjoyed our 3 years there. I would be home each day by 2:00 - 2:30 pm, get into my shorts, float around our in-ground pool (we rented the house we lived in, but like most homes there, it had an in-ground pool), would periodically "dock" by the poolside cooler to grab a fresh beer, and float around some more. We never had to worry about rain ruining an outing we would plan (average of 330 sunny days per year). In the winter, you can get up before dawn and drive to Flagstaff or over to the White Mountains and ski all day and come home and put on shorts and have a cook-out. (If you ski, I'd rec. the White Mountains. At least when we were there, the ski resort was on Apache land and the resort was owned and operated by the Apache. I know, I should have included that tidbit in the culture area).
The arrival of our first child brought us back to Ohio. I honestly missed some things about Ohio. The changing seasons, especially the colors in the fall and of course being far away from OSU, are 2 things that quickly come to mind. However, if for some reason we didn't have kids I don't think I would have stayed in Phoenix. The tremendous growth of the city was causing it to become a little LA in some respects. Also, the pollution is quite bad in the winter months. We all see the nice temps in Phoenix in December and January but what isn't mentioned is that the air is so unhealthy that you may be advised to stay indoors.
Finally, I have two friends who live in Buckeye. And yes, they are OSU fans.