It's true that it is more difficult to find like-minded friends and more intellectually stimulating activities there, but I think that that would only become a concern when you're over 13 or something, and there's a lot of time for that. Big libraries (which I missed back in the day) wouldn't be a problem today, and as for role models, that wouldn't be a problem in that kind of city I'm talking about.
Of course, there is no perfect choice, but in my opinion a small city would be the best compromise. Then, only time will tell...
In Italy, places like Padova, Pavia and Pisa - back in the US, places like Eugene, Oregon or Boulder, Colorado (although I've never been there) may qualify.
I also recall where rensellaer poly is to be a nice little town next to the university.
I can't think of many towns in Texas that offer a small university town without being so spread out parents don't have to worry about cars though.
Boulder is also really nice near campus (getting sprawlish outside it), mountain hikes are a bike ride away.
- Only limited access to like-minded children (i.e., rather nerdy people who like to actually design and properly build tree houses rather than putting together some old sheets and then move into 'let's attack the tree hut' mode)
- Access to intellectually stimulating activities
- A proper library (maybe less important with the internet nowadays)
- Role models who aren't factory workers or construction workers (nothing wrong with them, but being exposed to a variety of role models is the key - I didn't really get the concept of an office job until I was in my early teens).
I have no desire to move back to such an environment, and even less desire to let my daughter grow up in it. Not saying that cities are perfect either, just that I don't think the advantages of villages outweigh the disadvantages.