to answer your question:
North = North of 183/Mopac - Good place to live, cheap, long commute downtown
Northwest = Best schools, lowest taxes, lowest housing/rental prices, long dtown commute
Central = Only live here if you plan on living in a small house with 5 other people and go to UT, otherwise expect to pay A LOT for a little. Crime is not the best here, but not the worst
East = Anywhere east of IH-35, has poor schools, poor development, cheap housing, cheap property taxes, high crime, high density of blacks and mexicans, low density of whites, high density of police
North East or South East = past 290, south of IH-35, pretty much the same as east austin, but just looks nicer because it has been recently developed. dont be fooled.
South West = South west austin is west of mopac, south of ladybird lake. this is where the real austin money resides in a place called westlake. great school, low crime, high density of white people, low density of blacks and mexicans, very expensive area to live but very nice and pretty
West = anything along hw 620 pretty much. great schools, pretty views, can find cheap places to live as well as extremely nice, traffic gets awkward here if you don't know shortcuts, crime is low, mainly white poplace here