Waterford is a good spot, it has really came on in the last 8 -10 yrs, for a long time rests were in scarce supply but that seems to improved.
The Cork road can be pretty hectic at peak times, alot of industry with W. Crystal, WIT and the industrial estate, basically if you are heading in for 9 it can be hell, but at 9.30 you could run a formula one race up the road.
As to areas, lots of good ones, as others mentioned the Dunmore (effectively Ardkeen) road has a huge amount of new estates (some quite upmarket) and is very popular, (and very scenic if you travel a bit further) only thing is from there to the Cork road is a traffic jam from about 8.20 to 9.00. Have a look at the new ring road for both Dunmore Road area and eventually the other side of the Bridge, it should make the New Ross a really option or people working on the Cork road. Loads of really nice estates all around the city and huge Developments up around Gracedieu.
Tramore has attracted a lot of people working in the city and is a great place to live from Sept to May. Only thing is coming in the main road means joining the Dunmore Road jam!
Sorry to be so long winded, if your not tyed to times (or even 9) the Cork road is great to get to from anywhere.
Lived and worked there for about 8 years, left last year and still wondering why??