Here's my impression of some of the popular places to live with a family.
Benton/Bryant - fairly rural, affordable, 30 minute commute and possibly longer when I-30 clogs up, safety not an issue, great school district
W. LR - nice and fairly new, more expensive than above, shorter trip, safe area, plenty of apartment options
Heights - close to school, cool neighborhood, I know people who live here who have had break ins, kind of expensive
Cammack village - a cool place to live, to quote someone else "you'll feel like a lazy bum cause everyone here walks their dog all day every day", 10 minutes or so from school, fairly expensive, don't think there's any appartments here, pretty safe
Maumelle - a planned community just across the I-430 bridge, safety not an issue, moderately expensive, good elementary schools, middle schools not so much, now has it's own Wal-Mart so no more driving into LR to go shopping. Takes 20 minutes to get to school at 9:00 (30 if you have to be there at 8:00)
All of these places except benton/bryant are in the Pulaski County Special School district which is kind of a mess. I'm biased towards Maumelle, it's got tons of parks, walking trails, and lakes. Most of the streets end in cul-de-saks so you don't get much through traffic (good for kids to play out side).
Feel free to weigh in on my impressions and tell me if I've misrepresented any of these places.