I lived there for 6 years. Worked in the film/TV/VO industry. I also worked for a contractor. Needless to say, I was all over town during rush hour and never knew where my next day would take me.
If I could afford it I would still be living there. I LOVED los angeles.
My advice is to not get caught up in the traffic BS. Yes, its terrible. It will always be terrible. But don't think that you have to live 3 blocks from work just to survive and get to work on time. I lived in Pasadena and worked down by the airport for two years. The commute had some icky parts but also had some free-flowing points. I love driving and it was kind of a new puzzle to solve every morning. Just save plenty of time. Another thing that the LA lifestyle tends to afford is the fact that employers completely understand that traffic sucks, so if you're late once or twice a week chances are no one will even notice. Its just like your current position. If you're late three times a year, the boss might talk to you about it. In LA, that threshold is just a little more tolerant. My point in saying that is to take advantage of some of the awesome neighborhoods that aren't adjacent to Culver City. Look East. Anything to the west is going to be even more expensive. As you get east of downtown proper, the neighborhoods are more spacious. There are actual parking lots for stores instead of paid valet garages like you find downtown and to the west.
I lived in Lincoln Heights for a long time. Its getting a bit better, but it is super ghetto. Its one step away from East LA. However, Glendale is charming, its up against the mountains, and Burbank is a lovely 2-mile drive with tons of great shopping and incredible auto services/culture. Silver Lake is kitchy and hipster, but has tons of nightlife and great dive bars/restaurants. Pasadena and Eagle Rock are also very lovely, but being in the hills they are a little pricier.
The Valley will save you a ton of money, but you'll be pretty much forced to use the 101 and 405 which can both be really bad. Any of the other freeways have options, so if one gets an accident or clogged up, people can choose another way. If you're coming over the 405 from the valley and there is an accident, you just wait. Normally, its not a terrible commute, but that once a week idiot can really ruin your day.
Its been about 6 years since I lived there, but check out Highland Park. You would be using the 110 and the 10 to get to Culver, but when I was there, the 110 stayed pretty open until downtown, so despite Highland Park being an additional 4 miles away, it usually isn't trafficky. When I was there, Highland Park was a lot like Silver Lake but one step more ghetto-y but it was rapidly improving. Great restaurants, good nightlife, still a few areas with bars in the windows. Up to the northwest of Highland Park is an awesome new housing area that very much has the feel of Hollywood Hills at half the cost.
There is also an area to consider for condos (if you don't need a yard) in BeverWil. Its the area just west of downtown between Beverly and Wilshire. Kinda Rosedale/Mid City. That would put you close to Culver, but you'll pay for it.
I really love LA. I loved it so much that I even loved the traffic and the smog. The weather can't be beat, the diversity of cuisines and cultures is never ending, and (despite what people say) there are a crap-ton of awesome people in LA. Just avoid the richy-riches with silver spoons and hang out in the cool neighborhoods.
Yes, the cost of living is obscene, most people are less than friendly, and crime is prevalent. (it is a big city) 
