I'm going to be honest, I know DSM well and if it were so great I'd be there now. I'm not sold on the growing hype train about DSM, and the cheap cost of living is an excuse for employers to give you lower wages. It's a nice, progressive city though.
So yes, the best part about DSM is that it is a nice city, albeit a bit small. Part of the influx of people are younger Iowans gathering there as the other cities/towns have gone bust.
As an individual with gainful employment, stay where you are unless you're made an offer in DSM. I can't honestly recommend anyone pack up and make the move without. A lot of employees run around that city with the same few insurance companies on their resumes. It's just a very small market.
The short answer to your question IMO is that in the 'midwest revival' cities group, it's one of the best choices. It's better for a founder than it is as an employee though.
I'm also looking to put down some roots at this point, Seattle, Chicago and maybe Portland are in the running. If you're from the west coast I personally would pick Seattle.
For myself, I'm likely returning to Chicago to put down roots and buy a home, as a robust public transportation system means more to me than any other metric. Spending half my life in traffic isn't something I'm willing to accept.
I think you're spot on though with questioning the hype.