+1 I agree with you on the school situation. Memphis has a few exceptional schools, but the administration is taking the system down hill fast. My wife and I have always chosen private schools for our kids (currently MUS and Briarcrest), because we did not want our kids involved in the red tape/politics that is killing the school system.
Fayette County, Eads or Arlington is in my future also. My move is not based on the perceived danger of living in Memphis, but the opportunity to get back to a slower pace and my roots. As a boy I lived near US70 and Germantown Rd (I hate the Wolfchase Mall because it destroyed every memory that I had of that area). Things were quiet and slow and as I mature I desire to return to that type environment.