We moved out to Heath (which is essentially South Rockwall) right about a year ago. Previously we were in East Dallas by White Rock lake. We have twins who are 2 and a half and decided we wanted space and a better school. While the option for elementary was great, we didn't like the middle or high school we fed into in Dallas so we decided to move before they started school and we'd have to uproot them.
Everyone is saying things about the commute, but it really does depend on when you are leaving. There are times when I can be downtown in 25 minutes and others where it's a good solid hour. But honestly, there were times living by White Rock that took just as long. One thing that helped a lot, right after we moved out here they re-striped the bridge over Ray Hubbard on 30 to be 4 lanes instead of 3. At the end of the day there are 2 ways over the lake or you can go around it. Waze is your best friend for the commute as there have been a few times where going around the lake was faster than sitting in traffic because a wreck shut down 2 lanes on the bridge. Also, it is a bit of a hike to DFW airport if you have to travel out of there.
You do have just about everything you need out here. We find ourselves going over to Firewheel for the few things that aren't out here. We also go down into Dallas quite a bit on the weekends with our kids to do things like the Perot, the Zoo, the arboretum, etc, or to hit up North Park. Our neighborhood is quiet and we have way more house than we had in the city as well as a pool. So far we like it. But I'll be the first to admit as soon as our kids our grown we're selling the house and moving to a condo in a city somewhere
Feel free to PM me if you want more info.