Except that as my sister discovered after moving to the Loop in Chicago, public transportation is great until you need to depend on it. Work doesn't care if you're chronically late because of chronically late trains. Maybe other cities are better here, but before long she was spending 45 minutes commuting 20 miles in a car because at least then she could choose to give herself more time, and swing by the store on the way home.
Full caveat, I live on a homestead much like this story (except we still haven't gotten around to taking down the two dilapidated structures on our property). I sometimes think the story about high-efficiency urban living is myth. This is especially true when I think about the number of SUVs and trucks I see when I go to Boston, sigh.