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Peninsula Schools
I only know Palo Alto - but after 7 years we are still very happy about the schools and the community involvement in them. I won't say that the schools are amazingly diverse, but the town does make an effort with admissions from East Palo Alto (and the Stanford student ghetto) so that they are not completely homogeneous.
Los Altos is also great, and some LA households are districted for PA schools.
Oddly enough, for the price you can get a bigger house in Portola Valley than in Palo Alto. Downside is less community and longer commute. Public schools in PV are good till middle school, and apparently there is a charter high school that shows promise.
Most professionals that I know in San Carlos, San Mateo and Redwood City do private school all the way through.
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