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We've lived in the Mallard Creek area for 10 years and love it. So many conveniences. The Arbors (near the Trader Joes, Hickory Tavern) is a popular place and from what I understand and have seen it looks nice. The schools in this area are good also, Middle schools are not as good as the HS and Elementary, but with a solid foundation should do fine. New middle school opening 2009, new Elementary off Hucks opening this year. The HS will be starting it's 2nd year this fall. With the growth, I wouldn't move too far, what takes you 10 minutes today, in 2-5 years may take you 30 minutes or more. Although moving to Cabarrus County (Concord, Harrisburg), would be cheaper, in the long run, with gas prices may cost just the same. Hard to predict any of that kind of stuff though. Depends if you want more of a rural setting or city. Rural move out, City stay closer to your job.
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