I really don't know what it's like to work as an anesthesiologist at the U. When I was a med student there, the program was very small and not well respected in the institution. Like cchoukal said, it's a weird hybrid practice where most rooms are covered by a private group (Twin Cities Anesthesia) and some by "staff" anesthesiologists from the university. Both groups supervise (and ostensibly teach) residents and SRNAs as well as CRNAs. If I remember, they get paid pretty well for an academic institution and they weren't in house on call when I was a student. not a lot in the way of research there. since I left, they got a new chair and a number of new faculty, so it may be getting better.
As far as Amplatz, it's a new deal. Again both TCA and the U faculty work there. I don't know exactly what the demand was for a third dedicated children's hospital in the twin cities, but I'm not sure there are a whole ton of peds cases to go around, especially to the "new guy on the block". Both Mpls childrens and St Paul childrens are decent places with a full range of services, so I'm not sure how Amplatz fits in. A few peeps from my med school class just started/will be starting soon there, so maybe I'll find out more over the next few months.
As far as lakefront, minnesota (and esp mpls/SP) is the place to be. Although around the ritzy mpls lakes, property values and taxes are brutal. One of my partners pays ~$40,000/yr property taxes for his lakeshore pad, so be prepared to bring your checkbook.
