LOL... I like Edmonton way better than Calgary. I find Calgary really money oriented and fake.
I live close to downtown Edmonton, in what used to be a really run down, crummy area of the city. It's cleaning up and I find it fantastic. I am not that big of a partier anymore but I used to go out often when I was in school here (about 3 years ago) and I found the music scene to be great. I love live shows and there were lots of venues for that. Around the university (in the 'Strathcona' area), there are lots of bars that cater to the university crowd.
As for St Albert... it seems like a wealthy suburb of Edmonton. There is a bus that goes from St Albert to various stops in Edmonton. I have to to admit that the transit within the city sucks but if you have a car, then you'll have no problem (Calgary's transit is worse). Anyway, St Albert is just suburb - there isn't anything there of particular interest. It's attached to the city though.
There is quite a bit of homelessness here but you really get it all over the country. I find it worse in Vancouver and Toronto! Also, Whyte ave is where all the bars are that I was talking about, and there are a lot of boutiques and cafes around there. There seems to be a lot of panhandling around there since people that frequent the area tend to have money.
The lifestyle in Edmonton is different from Vancouver and eastern Canada - it's a big country. Vancouver - you're close to the mountains but it's VERY expensive to live. Calgary is pretty darn expensive too but also, you're close to the mountains. Edmonton is pretty pricey too but not as bad as Toronto, Calgary or Vancouver. We aren't as close to the mountains but I still go once in a while - I go for a weekend though. The weather is cold between late November through to March, but if you dress for it, you'll be fine (I never feel the cold, but I dress warmly - and I walk everywhere).
I guess there are drugs here but everywhere does! I rarely notice it as a problem. If you're worried about it, don't be unless you run with that kind of crowd.
Hope that helps!
I should add, I have lived in both Calgary and Edmonton - and this is just my perception of the cities! You may not find what you are looking for here, but you might - you'll never know until you try!