I live in Pocatello and generally love it here.
Here's some generic info on some negatives.
Fewer "Chain" stores than surrounding cities of similar size. (but on the plus side, more unique local stores)
Fewer choice for retail shopping than Idaho Falls.
Property Taxes in the city limits are slightly higher than the state average.
Some areas of town can appear run down due to Pocatello's industrial/Railroad/Blue Collar past. These are largely being cleaned up.
The Pocatello Airport doesn't have many affordable flights anymore. Have to travel to Idaho Falls or Salt Lake City to catch a flight.
On the plus side...
Winter weather is usually slightly milder than surrounding areas.
Unparalleled access to the outdoors, hills and mountains around town are awesome.
I'll just post this link from a article written a year ago by a good friend of mine which explains better than I can what I like about Pocatello.
Idaho State Journal :: General :: Some advice for Pocatello newcomers