I just recall a t-shirt campaign down there a few years back. T-shirts emblazoned with "Keep South Austin Weird", or something to that effect.

My favorite club there is the Continental... on S. Congress, in South Austin. I've ridden my/a bike from that area to downtown, numerous times when visiting and found it very bike friendly.

Now that I goooooooogled it, my recollection was a bit off.... it was keep Austin weird. At any rate, S. Austin would be where I'd want to live, if I lived there.