North Lake shits on South Lake, unless you're looking for a more vibrant night-life. South Lake is full of crack heads and general griminess.
If you just want to ride, and then mellow out at the cabin/condo/whatever, North Lake is by far the better place to be. The resort proximity is a lot higher than South Lake. You have Northstar, Squaw, Alpine, Sugar Bowl, etc all within 45 minutes of each other. You're a quick drive to Reno as well, if there's no snow on the ground.
Look for places in Kings Beach, Truckee, or Tahoe City. Anywhere along the lake between KB and TC would be ideal too (Carnelian Bay, Tahoe Vista).
Anything else in particular you wanna know?