Well how depressing the other's outlooks show the wonderful areas of Kentucky.
Both towns have good and bad depending on your preferences. Paris has that very small town feel, and is very isolated feeling, while being within 15-20 minutes of Lexington. It has a very rural - Mayberry feel. I'm not as familiar with Mt. Sterling, but have heard very positive things about that town as well. It seems Mt. Sterling may offer more by way of jobs, but is also about the same commute time to Lexington, so this may not be an issue for you. Paris has a nice commute road that has been widened in the last few years, so is a great drive to Lex. Mt. Sterling sits right off I-64, so would be interstate commute and a nice easy drive as well.
I don't know anything about the schools in either towns, as I've lived in Lexington, Richmond, Danville, Berea and now Morehead, KY, but I haven't heard they were BAD either.
The opinion about "nothing to do" in these towns are true, BUT that's the exact reasons you have the small town, low-crime, lower housing prices than the "bigger cities". Along with the amenities, seems everything else tends to go downhill accordingly. If your idea of happiness is living in a "Mayberry" atmosphere, then I think you will just love either place. (Remembering Mt. Sterling is probably more comparable to Winchester than Paris), but both great towns in their own rights!
Hope any of this is helpful. Good luck with your move
