It's good.
Campus is a damn good size (1,112 acres/4.50 km2), and the freeway offramps were designed really well, there is damn near no congestion (fucking unheard of in Riverside/California/anywhere heading towards L.A.)
I can't comment on living here because I don't - I drive 100 miles a day (which is why the first thing I mentioned is the damn offramp

), but the surrounding area is damned nice. The student apartments are cheap (and one complex is built into a move theater), situated in a huge area filled with restaurants. The campus is clean, and I haven't met anyone who is flat out fucking stupid in any of my classes (breadth or upper-division). Even the larger scale breadth classes max out at about 500-550 people, but the seating situation and the T.A. system they have here makes it simple to situate and compose oneself. Typical class sized range from ten students to at most twenty five/thirty.
I'm a philosophy and genetics major. We have quite a few world renown professors in every department, and it seems that every one of them that I have met have either come from Harvard or Yale. Most left teaching at those schools because they didn't like the environment.
Plus it's a quarter system, so each session lasts just ten weeks. They have a myriad of programs depending on the type of fields you are in, usually ending in Ph.D's.
All in all it is a pretty damn good school. Tuition is only about $2600 for me (I'm not sure if they passed the 30% increase in tuition fee's - so if they did expect more) - but the cost of tuition covers all unit costs, so in essence you could take either 4 units or twenty and it would still be the same price.
I should also mention that the college itself is divided into three main disciplines. There is CHASS (humanities and arts subsection), the College of Natural and Agricultural Sciences, and the Bourn's College of Engineering. Most of the time you will be doing your research in these subsections of the school unless you are interdisciplinary, and they are all very well set up. Each college houses it's own giant library complex, and each individual building on campus also houses another library dealing with specific literature relating to the field the building is designated for. The school is also opening the medical wing for medical doctorates by 2012, so if you plan on taking that route it will be open to you.
Honestly, it's a damn good place to get your B.A/S. or Masters. It doesn't have the greatest name (like any of the ivy league's, M.I.T. or Berkeley) due to funding issues (no where near as many anonymous benefactors, so the budget is no where near those schools), but that doesn't make it any less of a damn good institution. In my opinion, it's a good idea to come here, finish up to your masters (if that's what you wish) and transfer to a school to start your Ph.D if you care about the name of the school you graduated from. I have to admit though, the doctorate programs here are not "shoddy" when compared with any other school.
Weather wise: It's California. Right now it's raining, next week it will be sunny. Riverside has some moderate to high temperatures - as expected with summer approaching; it will definitely be cooler than Nevada.
UCI... is a damn beautiful school (the surrounding cityscape stomps Riverside and most of California to dust - the school itself looks like UCR though), and is rated one of the highest in my field (for logic). It's damn near crime free, but when a crime does occur it is always on par with the most famous of serial killers/sniper shootings - I'm not exaggerating. One thing that sucks about Irvine though is that it is so damn expensive to live there; I would need to triple the amount of my student loan just to live easily there for each school session. Also, it's kind of boring; I've heard they have a good "greek life", but I don't give a shit about that. UCR has a huge "greek life" too, but I'm more interested in the campus talks from authors and famous scientists and all the other jazz that goes on that happens on a daily basis.