Some of the things that came to my mind have already been mentioned - more interesting public arts events, more vegetarian/vegan restaurants (and alternatives at not-specifically-veg restaurants), more intersting independent cafes, etc.

I'd also add: a huge growth in farmers' markets, and more consciousness and availability of local and/or organic and/or fair-trade food in general. Also, more bike lanes and other bike-accommodations, though I suppose that's not to everyone's tastes. Also, more interesting geek enclaves like Hacklab, LinuxCaffe, and (to a certain extent, anyway) the Centre for Social Innovation.

I do agree about the decline of the club scene, though, or at least the type of clubs many of us are/were most interested in. It's kind of sad to think that Toronto doesn't really have any goth/industrial clubs any more - just occasional events at other clubs. Then again, I think that's because a lot of the people who used to go out to them weren't going clubbing much any more even before they all closed... I remember the last night I went to at Savage seeing all kinds of old familiar faces - and hearing everyone talking about how they didn't get out to clubs much any more due to work/marriage/kids/other life stuff, but just had to come out to this one, and realizing that was exactly why it was closing. And knowing that I was as much a part of that as anyone else. :-/