I also born & brought up in Mumbai and always loved this city with its own problems. But went to Hyderabad and stayed there for almost 3 yrs. I loved that city more than Mumbai. I just returned back to M'bai due to personal reasons but I would definately prefer hyd over B'glore or any other city in India. I mainly loved it because less traffic, new infrastructure of the city, plenty of big IT companies and weather (if you can bear 2-3 months of hot summer, rest of the time is good), plenty of new restaurants, malls, sightseeing, etc, etc.
Only issue there is a language, rest is all good.