I tend to like quiet towns, so I'd move to Cambridge in a heartbeat - course it wouldn't work with my current job. Real estate is much more affordable, and space is readily available, which is much more condusive to the automotive hobby for me at least. Cambridge also has all the typical grocery and big box stores, so you would have to leave town often for errands and such. When you do need to leave, the 401 is right there. Traffic eastbound on the 401 from Cambridge to Milton/Mississauga is garbage though, starting at about 6:30am.
As others have said, Guelph and KW are "nicer" in that they're slightly better maintained and tend to attract a more upscale population, but there's nothing that stands out as a big issue with Cambridge to me.....Good food at "Fast Eddies" on Hespler road right across from the Home Depot.