I live in the Clairfields subdivision and we built our house back in 2000. Things have really grown in Guelph and it has changed a fair bit since I moved here. For one thing there are a lot of great dining choices now and we even have a good movie theatre in the north end of town now!
If you like good take out make sure you hit the Poultry Market just off the Hanlon on Kortright. Amazing Chicken Pot Pies, soups, Mexican entries etc. I could tell you all about my favourite restaurants.
As for where to live the neighbourhood just south of the Grand River on the west of Gordon is amazing. Nice large lots, well kept homes etc. Alas, house prices in Guelph are fairly steep. Fergus is a more economical choice but the driving between Guelph and Fergus in the winter on highway 6 can be daunting and downright dangerous sometimes.
Feel free to P.M. me and if you ever want to meet for coffee I could give you my two cents worth of what is great in Guelph. Barrie mentioned Hespeler and Cambridge is only 20 minutes from my place and there are some nice subdivisions there as well. I still find it frustrating that I can get to shopping in Cambridge quicker and easier than I can get to the north end of Guelph. One thing you may come to hate is the Hanlon which is the excuse of a roadway that connects north and south Guelph. It is nothing like the Linc in Hamilton which is wonderful and efficient.