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@tonylast
Interesting thread. I was born in London, but my parents decided to move out of the city when I was five (and my brother three) as they didn't really fancy bringing us up here; moved to Peterborough...I came back in 2006.
Had I mortgaged myself to the eyeballs on arriving back I'd be laughing right now but hindsight, as ever, is a wonderful thing - instead I've rented in and around Zones 2-4 over the years and we're just in the process of purchasing our first house. We've ended up heading out to Dartford to find something that's both affordable/decent-sized and reasonably convenient (both of us work in Westminster).
We'd have loved to have moved nearer Cambridgeshire or Norfolk - St. Neots was on the list, and commuting time wise isn't actually that much different to where we've ended up looking, but the season ticket cost of £6,076 each put us off...not keen on blowing c.£12k of take-home salary on getting to and from work at the moment.
London's great, there's always something to do if you have the time/money to enjoy it. Unfortunately it's getting that balance right that's the difficult bit!