IND is a very nice city to live in; lived there the first 9 months or so of 2006. Quite affordable, good airline service to lots of places for the size of the city, safe as long as you're not in the bad part of downtown or near-East end, and within one day's drive to almost the entire country. They don't call it "Crossroads of America" for nothing.

Avon, Brownsburg, Eagle Creek, Carmel, Noblesville, Fishers are all really nice areas (and they progressively get further from the airport in that order). Your commute to the IND terminal can be anywhere from 15 minutes to an hour, depending on how far out you live; I was around Allisonville Rd/86th St. when I lived there and it took me about 25 minutes to get to the old employee parking lot.

Indy really doesn't get inundated with snow; I'd say its more of a hot/humid climate than it is a snowy/wintery climate. Overall, its fairly temperate...MUCH moreso that Memphis.