I would also appreciate any thoughts on living in and relocating to Toronto.
I love the Toronto area; it's a fabulous area, and if I had the money I'd move to the Yonge and Davisville area and never go anywhere ever again.
That said, there are some downsides:
*It's a very big city that's grown faster than its infrastructure. Even since I started going regularly in 2000, I've seen traffic get seriously worse. Worse, there's no real way for it to ease up. There's not really anywhere to put a new freeway. And even if they extend the subway and the Sheppard line, that's not going to help a lot since so much of the recent growth has been in Markham and Vaughan and other outer suburbs that are going to be car suburbs for a very long time. And while Toronto proper is a nice urban city, there is an awful lot of faceless suburbia of the worst kind that's springing up around it. The last time I was there, parts of the GTA reminded me of Plano.
*Housing is quite expensive and hasn't eased up.
*You won't have any credit history when you show up, so it's like being 20 again in that respect.