Peter - Yes, I've been here for almost 2 years, and I love it! The cost of living is incredibly low... A condo with an ocean view rents for $300/mo. A nice 2 bedroom apartment rents for $150/mo. Bus fare is 50 cents. 20 bananas for 35 cents. It never gets cold (I don't have a single blanket).
The people are very friendly, and it isn't unusual for them to escort you there if you ask for directions. Portuguese is a difficult language, and very few people understand any English; but if you know a little Spanish or Italian, you can usually get by. Fortaleza is a popular tourist resort for Brazilians, Italians, Portuguese and a few Americans.
They don't have the strict anti-litter laws that California does ($1,000 fine), and that's the only negative I can think of. Security is a concern, but not as much as Sao Paulo, Rio de Janeiro, or New York City. In such a romantic, tropical setting it is not surprising to see a lot of artistic talent. I have a gorgeous collection of oil and acrylic paintings at an average cost of 25 dollars. A beautiful leather wallet costs seven bucks.
If you have any other questions, let me know. In the meantime, I will post a few more photos on Chuck's site.