Congrats to your wife on earning her degree!
I recently decided to move away from the Bay Area, and I looked at Reno, Denver and Austin. I decided to move to Reno because it's close to the desert and the mountains, so there's a lot of out-doors stuff to enjoy, and it's a small enough city that it's not too crowded and busy, but it has enough amenities to be fun and interesting.
As Eddie's already mentioned, there are a lot of new tech jobs out here, so finding jobs seem to be fairly easy. Infrastructure (roads, hospitals, schools, emergency services, etc) are a little strained and house prices are on the rise, but I don't think these are reasons to pass the area up.
I have friends down in Carson City, and always enjoy spending time down there (it's about 45 mins South of Reno). There's an archery and shooting range just on the edge of town, you're close to Mount Rose for skiing and snow shoeing in the winter (though it's no Sundance) and Lake Tahoe for fishing and lake fun in the summer. There's great hiking just above Carson, and the down-town evening life is pretty good.
Of course, as you've seen from many of Eddie's posts (and maybe some of mine) there's a whole bunch of really neat off-road trails and adventures to be had in your Jeep, and you're within a day's drive of Socal, and not too far from Moab, so if you're planning on wheeling, it's a good place to be.
If you do decide to come out, and you're interested, hit me up and I'll show you around Reno and we can put a Jeep run together for you as well. If you need a place to stay, then I can help you out there too.
Good luck on your decision!