I reckon I'm pretty lucky to have been born in Torquay and to have spent most of my life in such a beautiful place. I also have the added advantage of still having family living there so even though I've moved away there is always a good excuse (like I need one!) to return.
Being a sea-side town there is plenty to do both in Torquay and the surrounding towns and villages. There are numerous beaches from the sandy Torre Abbey Sands to the pebbly Oddicombe and Babbacombe beaches (if you go to Oddicombe there's a cliff railway you can catch down to the beach and up again which is fun and saves your legs!!) to the nudist Pettitor beach. There's the Model Village and Paignton Zoo which are always worth a trip. Cockington is a particularly pretty little village just off the sea-front with horse draw carriages and thatched cottages. There are numerous deep sea fishing trips you can take or simply a boat accross the bay to Brixham, a pretty fishing village about 7 miles along the coast from Torquay. There is plenty of accomodation to be found from camping just outside the town, to the various 4 and 5 star hotels. The nightlife varies from pubs, restaurants and nightclubs to theatre shows and strolls along the prom.
Bear in mind that this is a VERY busy town during the summer season and getting to Torquay can take a fair while and a lot of patience on the M5/A38. The town is brimming with tourists and the vast ammounts of foreign language students who decend on the town to attend the many language schools in the area.

All in all it's a great place to live and definately a place to visit! The English Riviera has something for everyone and caters for all price ranges.