It's not really the infrastructure that makes it Silicon Valley. In my 15 years of living here, it's the people. The concentration of tech companies here and talent is astounding! This is the only place where every week there's an interesting meetup with whatever tech of your choosing, be it Rails, Clojure or with management, with how to design/UX, and agile. This is the only place where a cafe is filled with tech people talking about their startups, pitch, their stack, etc.
I have been to many places including different tech metropolitans, like Berlin, but there's still nothing quite like Silicon Valley in terms of what I said above.
Now, my only gripe is that the housing market is crazy. It's funny how only the tech crowd get to afford to live here. I've seen families bunch together just to afford rent.