I also live in Pasadena, and I love it here. I find the location to be nearly ideal:
1 hour away from the nearest skiing yet 30 min from the beach.
And because it is a bit higher (on the base of the San Gabriels) than other parts of LA, the smog is better in Pasadena than in many parts of LA.
Also, Old Pasadena is just up the street and is a pretty popular place to hang out on the weekends, i.e. lots of people, and action (although some might say the crowd there is a bit yuppy.)
As an added bonus you get the Hunington Gardens just down the road, and let us not forget Caltech (the reason I am here in the first place.)
This place is great, I do not look forward to moving away!
And Danny is right, the city is not at all ghetto until you go north of 210. Most of the city is incredibly beautiful and full of rich neighborhoods.
BTW DannyLove, what is the other cross street nearest to your place? Marengo and what?
I think I live pretty close to you... I am near the intersection of Hill and Colorado (actually Green and Michigan to be exact.)
I wonder if I have ever unwittingly walked past you in Old Pas?
later,
-jothaxe