I live in North Orem and actually love it up here. It's far enough away from the Y that you don't get the students everywhere thing, but close enough to everything else for decent access. I don't have kids, but my neighbors are very complimentary of the Orchard schools in our area.
One thing to keep in mind with coming south. The construction on the I-15 corridor is going to get worse before it gets better. Orem to PG is a HUGE bottleneck for traffic going both directions in the evening. Not as bad in the morning, but if you mistime your evening commute you can sit for as long as 30 minutes in stop and go traffic. I communte between South SLC and Orem every day and if I miss the window for going home and beating the traffic I just stay at work until after 6. Better to be here where I can accomplish something than sitting in traffic and wanting to swear. The current plans for construction will increase the number of cross roads to I-15 and give stronger options for getting into SLC while continuing the I-15 work to expand the lanes all the way down to Springville. Not to say that won't change, this was just what was in the last city update I got in the mail, but something to keep in mind as you figure out where you wanna locate to.
~J