I'm really liking UNC so far. Like another poster said, it is a very laid back environment. I really like all of my classmates; they are friendly, intelligent, generally very collegial. There's none of the cutthroat stuff that you hear about from other schools. People are competitive but they're not competitive in the sense that they're going to step on others to get where they want to be.
I'm also enjoying my professors this semester. The classroom environment has been respectful and there's more of a "softcore" Socratic method. If you say "I don't know" or you're having trouble coming up with an answer they'll usually just move on and not try to embarass you in front of everyone. In fact, I just came from torts where the professor asked me a question that I really had no clue about. I told him I wasn't sure and he moved on to the next person.
As far as jobs, I'm sure that you're aware that UNC does very well in state. It also does well in major mid-Atlantic and Southern cities such as D.C. and Atlanta. Finding employment in California would probbaly require good grades, good connections or possibly both. I know that at least a few people from UNC do end up out there so at least it's possible.
For the town, I generally think there is enough to do if you like the college environment. Top Of The Hill, referred to by another poster, is not the only bar in town. I don't even like it that much; it's has too much of a popped collar feel for me. There are plenty of other bars and restaurants on Franklin St. and in other parts of town. If you don't like CH, Durham and Raleigh are nearby.