I grew up 20 minutes from Madison, and I've spent a lot of time there. I'm currently living overseas, but I'm moving back to the Madison sometime in October and I can't wait.
State Street is a fun place, and there are tons of great restaurants and bars. Most bands hit up Milwaukee, which is easy enough to drive to and back in a night, and you'll be able to catch some really cool smaller venue shows occasionally. Make sure to hit up Summerfest (again, Milwaukee) in the summer!
Also, the microbrews available in Wisconsin are fantastic. Madison has Ale Asylum, which brews my favorite beer (Bedlam!), but there are tons of others from around the state (definitely check out Central Waters as well.)
I'm getting excited just thinking about it. Feel free to PM me with any specific questions!