I did four years ago, and other than moving up the road to Whitefish (wifes job) haven't changed a thing, and am happy as a clam.
Kalispell is a nice town. Not big, not small. Efforts are being made to revitalize downtown and make it more walkable. Traffic is bad by Montana standards (not saying much). Elementary schools vary quite a bit in quality. Hedges and Elrod serve the areas immediately around and south of downtown and are the two I recommend when asked. Real estate is rebounding and, depending on where you're coming from, can be a bit hard to swallow.
The downsides are traffic, bad food (that's Montana), long and dark winters, and a very insular feeling. Sometimes I think we're in east-central Kentucky, and that's not a compliment.
Upsides are access to huge, varied wilderness in every direction with few people. The hunting is awesome. The fishing is better. The backpacking and backcountry skiing are better still.