Yes , it is cool in many ways, the literal way being the best. yes, it has one of the better climates of all indian metros. and that is what makes bangalore so livable .
it has some faults like small and bad roads , no traffic sense etc. , but again the advantages of lots of pubs, a cool life, cinema halls etc. and that too at cheaper rates compared to delhi and bombay make it worth living.
and of course , the it boom has made it a hot destination for the young crowd.