Hot and humid, but not quite Singapore-Malaysia-hot 'n humid.
The sheer number of restaurants and shops is simply mind-boggling. There are more than a handful of pretty massive shopping centers that will certainly meet 99% of your shopping/eating needs.
People generally understand English and most are also proficient in both Mandarin and Cantonese.
Daily living expenses/standards are much lower than in European countries but more expensive than many other Asian countries.
The hifi scene is very much alive and caters for all budgets (and those without one

). There are two major hifi shows on each year which showcase all the big, international names in hifi. There is no lack of audio-visual stores either and most prices can be negotiated.
Nightlife is also pretty good. Selection of pubs and bars may be limited compared to other large European cities though...
Public transport is very good. It's usually pretty efficient, comfortable, clean and priced reasonably. Traffic jams can be crippling, but because Hong Kong isn't that big, you never really get stuck for longer than half an hour to an hour.
Believe it or not, there's quite a bit of "country-side" to explore. The southern side of the main Island is gorgeous. The northern part of the peninsula, New Territories, is full of wild-life eg Mai Po Marshes. There is a nice park and botanical gardens bang in the middle of the economic centre of the city, Central. There are also many small islands scattered around Hong Kong to be appreciated (superb seafood!) and transport to and fro the popular ones is cheap and convenient.
All in all, Hong Kong is one amazing city (no modesty here!). If you can get past the hot, humid climate, the sometimes smoggy, polluted air (in busy areas), I would certainly recommend Hong Kong as a very pleasant and prosperous city to live in!