The biggest towns will probably be Luton and Milton Keynes.
My personal pros and cons:
Bedfordshire/MK area is pretty boring and the towns seem rathe lifeless. Having been to MK for work quite a bit it is rather American in feel but I imagine everyone scatters out of town after work and it's not very easy to get around without a car, in which you'll have lots of fun with roundabouts and wondering where you've gotten yourself lost after having driving around 50 roundabouts.
There is some nice countryside if you get out in some of the villages. Luton airport is nearby which is great for trips to the Continent and around the British Isles.
There are some nice amenities in MK. There's a big shopping area with lots of well known shops. There's the big snowdome and a number of golf courses about as well as David Lloyd gym, etc.
The train out of MK is fast to London and the Northwest and is a major stopping point.
Having spoken to a few people moving to MK, there are some rough bits in the centre, I understand Coffee Hall is *REALLY* rough, I know there are a few other really not very nice areas. I think going out past Shenley west/northwest is supposed to get pretty nice. But, you will be a car travel to the station.