clicked on this thinking it was a question for DC Comic fans....so yes, aqua-man was wasted in justice league...come back to live in Aus, you know you want to!

My wife has already said she'll never even go to a country where everything tries to kill you.

Alexandria is a good option. Old Town is nice, with plenty of decent places to live, decent restaurants, shopping, the metro, etc all in walking/biking distance. I haven't tried to bike commute to downtown DC from there. Distance-wise it's not an issue, but the roads can suck, or you might have to go out of your way because of one-ways or roads that just have too much traffic to ride on. I'm sure it's doable, but I haven't done it so I can't comment on that.

There's also nice areas in Northeast or near the ballpark if you want to move into DC proper. I have a friend living near H Street and 17th, where there are lots of new cool restaurants and shopping, a pretty decent weekend market, etc. That area is really improving, so you might be able to get in cheaper,...I don't know for sure.

It's definitely more expensive here than in FL. Housing is smaller, unless you live further out in VA or MD, but comfortable. I find it comparable to San Diego, if you have any experience with that, as far as cost of living is concerned.

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Slowguy

(insert pithy phrase here...)

I just moved and the thing I learned is that every 5 minutes you add to your commute will drop the price of the house you buy by like 10%. We have young kids so we were looking closely at public school ratings and Alexandria didn't fair too well in that regard. But bike commuting into DC would be easy from there.

We ended up in Falls Church a couple of blocks of the W&OD trail and I can stay off the streets pretty much all the way to my office.

And you're talking about moving to DC? :)

I lived in Arlington (Pentagon City) for four years and worked in Alexandria during that time. I technically still "work in the area" even though I no longer live there. Insofar as training is concerned, i couldn't think of a better place. Yes, the summer humidity is horrendous, but you are probably used to it, having lived in FL. Hain's Point is a godsend. I used to train there at almost any time of the day. With the exception of 10am-6pm during the warmer months, you can mostly do laps around a 3.1-mile loop non-stop, with few cars and pedestrians to bother you.

You should probably consider places on the Orange Line in Arlington as well, as there's a bike path along I66 to take you into DC. Upside is that this area has mostly new buildings (30 yrs or younger); downside is that it draws some obnoxious frat brother types. Southwest DC is getting nicer, but my caution would be that the area is still a bit shady. A friend was mugged at gun point a few years back. Also, a lot of the buildings there are absolutely dreary. Think cinderblocks and le Corbusier on steroids.

Also, places in MD by definition are further to most areas of DC compared to places in VA. This is a result of the layout of DC, which was constituted (as set forth in the Constitution) by a 10 mile x 10 mile piece of land obtained from MD and VA. The VA portions were returned in the 1800's, forming Alexandria and Arlington. So these two places are by definition closer to DC than even Chevy Chase. Rockville is almost certainly too far for bike commuting, though Potomac may be doable. Also, quite a bit of Alexandria is prone to flooding, so beware if you decide to live next to the Potomac.

As to where to live, your question is a bit broad, so I'll ask you a few questions first. Feel free to shoot my a PM if you don't want to divulge too much in public.

-Who is we? You and your significant other or does it include children? If it's the latter, the Alexandria and Arlington schools somehow do rather poorly compared to the housing prices. No idea why, but it's a phenomenon. Doesn't mean that the schools don't produce kids who end up going to the brand name schools, but for one way or another they aren't ranked so highly. Maryland schools have the best reputations, followed by VA schools outside of the beltway. Virginia also imposes an annual vehicular tax; otoh, Maryland has higher property taxes. Income tax slightly higher in MD.

-Single family house, townhouse, or condominium? How old is acceptable? Except to pay at least $750k for a 2000 sq ft house in Bethesda, Chevy Chase, Arlington, and Alexandria. If you are thinking of condominiums, be prepared for high fees. It's common for a 2Br, 1000 sq ft condo to have $800-900 monthly HOA charges, and this doesn't include utilities. Newer condo units are more abundant along the Orange Line, in Alexandria, and in Bethesda/Chevy Chase. If purchasing a condo, make sure you get a good sense of the financial health of the building, as some neglected to build up a sufficient capital fund early and are trying to make up for it.

-What are you going to do when you can't commute to work? The Red Line is by far the worst line of the DC metro. Also, whereas there are highways/parkways connecting Arlington and Alexandria to DC, there aren't any connecting Montgomery county to DC.

-Prices in Arlington aren't too much higher than prices in Alexandria (at least the desirable parts); might as well live closer to reduce commute.

You've gotten good feedback on the Alexandria and Arlington areas. I've lived in the District, Arlington (briefly), and am now in Bethesda.
It's a great time to be living in the area. Lots of new development and new restaurants, plenty of energy, much more interesting city than it was when I moved here.
The challenges for this area, like many others, are cost, schools, and commute/traffic.
Schools first - if that's an issue for you, the public schools in Montgomery County and Fairfax County get good reviews; while the overall reputation of the District's public school system is not as strong, it is making real progress overall, and there are definitely some schools that get great reviews from local parents. It also has a big charter school network but placement is through a lottery. Prince George's County has some good options, some not so good. I don't know as much about Alexandria and Arlington. Plenty of good private schools in DC and MD/VA suburbs also if that appeals.
Cost - homes and apartments are definitely expensive, even in up-and-coming neighborhoods. Not much to do about that, but given the pace of construction, there may be some softening in the condo and rental market this year. There are always the 'outer boroughs' - Baltimore, Annapolis, etc. - if you can handle the commute.
Commute/traffic - my advice would be to avoid any significant commutes on I-95, I-66, or the Beltway. Bike commuting is a good alternative to driving or Metro (which has been unreliable but is in the midst of a multi-year upgrade). In addition to the W&OD trail (Arlington and Fairfax) and the GW Parkway (Alexandria), there is also the Capital Crescent Trail and the C&O Canal towpath, which link Chevy Chase and Bethesda to Georgetown.
Someone noted earlier that the closer VA suburbs are not as far as the MD ones from downtown. That's definitely true, but in heavy traffic (weather emergencies, etc.) it can sometimes be easier to get to MD, since you don't have to worry about congestion on the bridges.
Depending on where you're headed downtown, it can be very doable to live within walking distance - there are plenty of neighborhoods with great townhomes, condos, or apartments that will put you an easy walk from various parts of downtown, with everything you need in terms of groceries, etc., within blocks of your home.
Pros? Decent climate, reasonably good outdoor recreation, good job opportunities, lots of interesting people. Cons - cost, congestion, outdoor stuff not as good as elsewhere.
Hope this is useful, happy to answer any questions.