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Pyzik:
Small world - I have a friend who lives close to where you are now. We currently live near Dayton, OH, but my husband is from the Somerset area. We plan to move there some time in the next few years.
It will almost certainly be a huge change for you. For one thing, it is the one place in the world that has higher humidity than where we are now! If you and your wife like to be outdoors a lot in the summer, you definitely want to visit in the summer months to see what you think. It is a very beautiful area, but short of lake related activities in the summer, not a lot to do for "city folk." The mall is tiny, but there are a lot of retail stores and restaurants along 27. Lexington isn't terribly far away if you get the urge to do the big city thing, but the traffic there is so bad (well, not quite as bad as Detroit) we try to avoid it.
Also if you visit in the near future, the lake level has been dropped almost 50 feet to relieve pressure on the dam while a long-term grouting project is underway to repair leaks, so the lake is not at its most beautiful right now. There is a lot of interesting history in the surrounding areas if you like to explore.
The cost of living is much lower, but there aren't many high paying jobs, either. We have been looking at homes/real estate in the area for several years on and off, and the cost is definitely going up fast.
I agree with Censusdata - Science Hill and Nancy are much nicer areas than right in Somerset.
Hope some of this insight helps you out.
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