My wife and I actually toured those buildings when we were looking to move last, and here are my thoughts. We live in Etobicoke still but a different area (more later). I actually used to work right across from the airport when we moved here.
The Valhalla Road condos were themselves pretty small and plain. We saw a few unit types in the high-rises, and they were very cramped. At the time (two years ago) they were asking for about $1500 / month to rent a 600 sq foot unit. That may have gone up or down, or you might be looking to own, but that gives you a rough idea.
The building has many amenities, and I think they're trying to make up for the fact that the surrounding area is pretty sparse in terms of activities. From what we heard they had exercise rooms, entertainment rooms, I even heard about a mini movie theatre. If you're into this kind of thing then it might suit your needs to live there and use the in-house amenities for entertainment. In our case we were looking more for a nice neighborhood and space in the unit itself rather than a building with all the bells and whistles, so we passed. Also keep in mind that if you own the unit you'll be paying maintenance fees to keep up all these services.
We saw a few other buildings in North Etobicoke before our agent took us down to Longbranch (Etobicoke Lakeshore). We immediately liked what we saw. The area is still 'up and coming', so the prices aren't too bad. There are a few condo developments between 30th and 42nd street that I think fit your criteria. We were able to get a unit with almost twice the square footage of Valhalla for only slightly more per month.
The area is mostly quiet with many retirees and young families. There are several parks and trail systems along the waterfront, including Marie Curtis Park, so if you like outdoor activities it would be great. My wife and I visit the park almost every day in the summer.
In terms of transport, Longbranch is perfectly positioned. The area is at the bottom of the 427 (the highway leading to the airport). As I said I worked across from the airport when we first moved here and it took be 15 minutes to drive to work. I also took the bus for a bit, and its about a 45 minute bus ride to the airport. We also have a GO station which takes you right to downtown Toronto in 20 minutes or so, which is awesome for weekend activities. Longbranch loop is also where the Queen streetcar terminates, giving you another option to get into the city.
I know I'm making a strong pitch for my own neighborhood and we are biased, but we were in the same position as you just a few years back and fell in love with this place. We just moved (within the same building) and have decided to stay here for the foreseeable future.
If you want more specifics feel free to PM. I know most of the other areas in Etobicoke too.
Best of luck!