Great location, but you will pay a premium. Very established and the draw is Camp Bowie, TCU and the surrounding shops, restuarants and easy access off I-30. It really depends on what you are looking for. Generally speaking homes are older. Majority of new growth north Fort Worth in the I-35 corridor where you can get 2-3 times the home for much less.
Southlake is generally much newer, out of the freeway hustle and a more DFW centralized location.... more
I've read that they will soon extend 121 through Fort Worth to Cleburne to reduce traffic on Hulen and other thoroughfares. I don't think it will affect the traffic on Hulen adversely. I actually think it will lessen it. Here's some more info on Chet Edward's website for your information (see link).