This question's been beat to death...
Northlake has the better skiing, Squaw, Alpine, Northstar's park, nightpark at Boreal, Sugarbowl is super underrated, Homewood is incredible for finding untouched.. Lots of dope backcountry,Truckee and TC/Kingsbeach are dope little towns, but not a whole lot of nightlife outside of a trip to Reno/SLT
South Tahoe has way more nightlife, cheaper housing, lots more jobs (and people in general), Heavenly is RIGHTTHERE in town, Sierra is a great place to escape the n00bs, and Kirkwood is right up there with Squaw and Alpine, terrainwise. Having them all on the same pass is pretty solid.
But ultimately, I'd still take a cabin in northlake if I had to decide between the two...
Have a nice day, Bluename.