Interesting article from the SF Chronicle about Rincon Hill... the area near the Bay Bridge that is seeing a lot of new development... and will get a LOT more in years to come. But as the article says... it is currently no where near where it's expected to be.
Here's the article
If you're interested in the area... and I know many others who are as well... expect to live amongst traffic and homeless. Some pretty good restaurants and night spots have been popping up lately... and you're pretty close to a relatively new Safeway (across the street from AT&T Park) and a Whole Foods.
Another reason to live in the area is if you commute down South or over the Bay Bridge. You can't get any closer to the Bridge. And of course if high-rise views and brand new luxury condos are your thing this is nearly the only place you can go.
However, if you want a more traditional San Francisco feel... this isn't it... high rises in San Francisco were few and far in between until now, and the Rincon Hill area used to be home to an elevated freeway prior to the '89 earthquake which wasn't all that long ago. So it's still pretty urban... although I really love the Embarcadero now with palm trees, green areas, and art work.
Finally, unless your high-rise view is particularly high, and facing North West... you won't get a Golden Gate Bridge view... SF's most famous landmark. For that, you've got to come to the northern neighborhoods of Pac Heights, parts of Russian Hill and the Marina/Cow Hollow among others.