Granpooba:
I don't live in Nevada so my research is restricted to short visits, internet research and daily checks of the weather.
From my perspective the downsides to the Reno area are as follows:
1. Lingering unemployment - Not a problem if you are retired.
2. Reduced home values lingering from the "Great Recession" - not a problem if you are retired.
3. Occasional earth tremors and slight chance of earth quake - could be a problem for some, but I have lived in similar areas before so not too much of a concern.
4. The Reno area is arid which means few trees and foliage. Sometimes "Brown" gets old, I'm hoping a short trip to Tahoe from time to time will cure it for me.
5. Gambling and prostitution are legal in Nevada. Not a problem for me as those types of businesses pay LOTS of taxes which keeps mine low. I'm sure some will take issue with the "vice" industry though.
6. It does get cold for short periods in the winter and it does snow. Neither seems to last very long though.
7. It does get hot in the summer but it's dry and usually only in the afternoon. Night time temps in the summer are moderate.
8. The arid climate can get to you if you are not prepared.
9. Forget about grass runways, too dry. I prefer paved runways anyway.
10. No ocean. If you like the ocean you'll have to drive to SFO to see it!
11. Elevation is about 4500 ft. May not be suitable for some with health problems.
12. If you live near the airport you may have to endure the sound of P-51 Mustangs, Corsairs, Bearcats and other loud piston powered aircraft with huge engines chasing each other around at low altitude during a week or so in the Fall! NOT A PROBLEM FOR ME!
That's about all the bad things I have discovered so far. I'm sure there are more. Different people have different priorities. So far the Reno area has the highest concentration of the things my wife and I are looking for. I really like the central coast of California (where my family lives), but California has a host of other problems that kick it out of the running for me. Cost of living (especially housing), taxes, water, and politics to name a few. I can easily visit the area from Reno however.
We have about 5 years to go to retirement so plenty of time to change our minds if something better comes to mind, but I have been looking for over 30 years and so far Reno is the place for us.
Here is what that Reno airport looks like at 500 mph from 100 ft or so! Notice the lack of trees and grass? I didn't either!
http://youtu.be/3e1f89eidFs