I went to CU for undergrad, and I lived up Table Mesa (15 min walk from the B'way intersection) for four years. Honestly I loved living in South Boulder. I was right on the SKIP route (a main bus that runs up and down Broadway, including through campus and downtown) and Southern Sun (the brewery someone mentioned above) was my favorite place in town. I'd recommend checking out the table mesa area.
Also, people are posting stuff about rental places, etc. I found my places to live through Craigslist, and I later found other roommates to share my apt through CL as well. Most people I knew lived with roommates, having your own place usually meant living in an apartment complex, no pets allowed (I have a dog), and generally not so hot places to live.
Having lived in Boulder for four years, feel free to ask away. I'll check back here to see if there's anything I can help you guys with.