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If you're really looking for great schools, I suggest a closer look at Chapel Hill and Carrboro. The CHC school system is very highly regarded. They aren't very big towns at all. I can drive all the way across both towns in less than 15 minutes.
Hillsborough is very quaint and a great town, but the reason many people who are house hunting end up closer to Chapel Hill and Carrboro is because of the schools. Hillsborough has Orange County schools and the folks I know who have kids there have been happy enough, but they don't have the excellent reputation that Chapel Hill Carrboro schools have. Pittsboro (south of Chapel Hill) is another very quaint small town, but the schools there are Chatham County schools. Again house-hunters often choose Pittsboro because Chatham County taxes are lower, but folks who are really concerned about schools try to buy in the CHC zones. I know several folks who are not thrilled with Chatham schools. I do know a few who have kids there, though. I also know many families with kids who go to Woods Charter (free) and private school.
FWIW, areas in the triangle (especially Chapel Hill/Carrboro and nearby) are going to be more liberal-leaning politically. Most areas in eastern NC are much more conservative politically.
I would suggest Holly Springs, NC. Holly Springs is an up and coming town and is south of Apex, NC. It is about as close as you can get to the Cary area without being right in it. I grew up in Apex, NC and I love the area. The people in Apex and Cary are fairly affluent and have a reputation for being snooty rich people and Holly Springs is starting to join them. But all in all, the area is one of the best places to live in the US. Wake Forest is also a good town to look at and Hillsboro is not bad either. I like the Raleigh side of the Triangle in my opinion better than the Durham side.
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