I did a 6 year tour there, so I guess I'll chime in. All of this will be very stream of consciousness.
First, the good: Tons of great food, tons of culture, you'll never be hurting for entertainment. In a city this big, you'll eventually find a few cool folks.
The bad: Everything else. Literally. It's eye-bleedingly expensive to own and operate a car. Traffic is life altering, as in you will likely change your work\social schedule to avoid traffic. You're near the beach, but you likely can't swim in it (they have E36 M3 advisories every morning with the weather, telling you how much poo is in the ocean. I'm not joking). There are mountains not too far away, but you likely can't see them because of the smog. You can't ski on them since they only have snow for one month out of the year.
Don't forget you live in a desert, and are also near an active fault line. Oh and mudslides. And fires. And riots. And they don't want you to have firearms. And there are water police. Yes, really.
On one hand, there is an amazing diversity of cars. The Irvine Cars & Coffee is the only place I've ever seen an LFA in the wild. On the other hand, the grind of traffic is soul crushing, and will quickly make you wonder why you ever thought owning an enthusiast vehicle was a good idea. If you own a Honda, it WILL get stolen. If you park on the street, your car will get hit\keyed\vandalized. You must drive like you intend to slit the person's throat next to you if you want to get anywhere at all. L.A. traffic will turn you into an shiny happy person.
Depending on your municipality, sales tax can be 7.5-10%. They are considering an additional $.80\gal tax on fuel. Don't forget this is the birthplace of Scientology. There are an unusual amount of people that are just flat-out trying to scam you.
There are some incredible moments to be had though. Driving mulholland, or angeles crest is breathtaking. Same for the redwood forest in NorCal. The Getty museum is unbelievable. Equally unbelievable was getting my miata complimented by Jay Leno...in his tank car. We were both sitting at a stoplight in Burbank. Unfortunately those little moments didn't make up for the soul crushing experience of the city. There is constant smog, and very little greenery.
Will you take advantage of all of the entertainment options? Maybe. Bearing in mind you'll be in traffic 1.5 hours just to get where you're going, then pay $20 to park, etc etc. Lots of people just say berkeley it and stay home, especially once you're out of your 20's and the glamour of it all has worn off. L.A. is a great place to be if you're filthy, filthy rich, or young and dumb and willing to blow all your income frivolously. It is a difficult place to actually make a living and build wealth. Doubly so if you have children.
When my work offered me a way out, I jumped on it, and haven't regretted a single day. They keep trying to woo me back, but it would take high six figures in order for me to find L.A. livable.
cliffs: don't do it.