On both my trips to Prague it dawned on me how darned convenient it is as a hub for central Europe: Berlin and Vienna are each 5 hours away by train, Munich a bit longer than that, Budapest ... um 8-ish (I think). Just a great jumping off point for the region, IMO.

You still hear a lot about what a ripoff the taxis are. That doesn't describe my experience at all. There are -- or were -- two really excellent English-speaking cab companies that you could call for a ride. They'll give you a quote up front and I found them to be fast, reasonably-priced and mostly friendly. I didn't use them a whole, whole lot, but definitely for trips to the airport or other long distances. Trips from the airport I just used public transit, bus/metro, not wanting to horse around with the mafia out front. A tip I got from an ex-pat (a female) is to flag down the "little ones moving really fast" rather than ones just sort of sitting around. Turned out to be good advice, esp. late at night.

One more thing about Prague: It's one of the most walkable cities I've ever been in. I actually didn't mind getting lost cuz everything was so interesting to look at. And a metro or tram stop is never far away.