I came to Austin as a marketing executive with Dell. I would be cautious about working for them depending on your style. Somewhat churn and burn, even today. That said, there are a large number of marketing executive positions in the area, mostly in the high tech area, and some others in supporting/services businesses.
At your level you know the ropes on how to find a job, clearly looking in the paper doesn't cut it. If you need local references for head hunters that focus on your job area, let me know. Depending on your risk tolerance, Austin Ventures and other VCs have a lot of startup opportunities that want seasoned executives.
Nothing compares to the Bay area, I lived in Mountain View and can swear to that. That said, Austin has been a good alternative for us, with excellent quality of life, excellent schools, much lower housing costs (especially if you actually live in the city of SF). And if your not Prop13 owners, then when you combine your local, state and property taxes in CA, we're a lot less...a lot less!
Your job market opportunties are going to depend on 2 functions, total compensation package required and your areas of expertise. We are a large city, but not by Bay area standards, so the number of opportunities will be noticeably fewer than where you are. I think your best course of action is to start the job search. If something interesting comes up, then you can spend more time understanding the Austin area. If there aren't any interesting opportunities, then finding more out about Austin is kind of useless.
If you want any help on the job market side of things, let me know.