Merits? A wonderful community of unique individuals and talents, and Valar is a wonderful place for them to meet and express themselves. UCI is also a wonderful institution to teach at, though some of the students can be a bit challenging.
Flaws? The traffic. It's abysmal. Unfortunately also, the state is in the throes of a drought, which does not lend itself to much of the flora extending beyond the drab, native desert plants. I barely have much of a lawn left as it is.