I've lived in Coventry pretty much my whole life! From my experience, Coventry is unfortunatly chav infested, especially around the Tile Hill, Wood End, Willenhall, Stoke and Stoke Aldermoor areas.
Nightlife is ok, although you can have a better night out in birmingham. Last time I checked, you can get a one way train ticket there for about £1.50 after 6pm.
I've stopped going up town on Friday nights, because I always attract unnesessary trouble from the drunken chavs, and have been involved in many many unwanted fights.
Transport is good, you can pretty much get a bus into town from anywhere around Cov, but beware of the back seat yob playing his uk underground gangster death rap on his loudspeakers, and the occasional spliff smoker! Luckily, all buses are fitted with cameras and TV, although sometimes I wonder if they ever check it!
If you drive, the ring road circling town is probably the worst and most dangerous road ever invented!
Always be prepared for trouble, my brother was on his paper round when a hoodlem held him at gun point and robbed all of his paper money. Now that the police have been involved, the hoodlem is after him with all of his cronies, and waiting for him on his paper round route, even though my brother's now had to quit it.
On a better note, I have noticed the increase in random police walking around! Locals (bar the chavs) are generally nice and helpful, City is top of the championship at the moment, and the Ricoh Arena is quality!