Some of the info is a bit out of date, (3€ haircuts?, 350€ apartments?), but the general take is correct. Valencia is a great place to live, and an inexpensive and safe place to retire.
We tell our clients it can be less expensive in Valencia for retirees than Mexico or Costa Rica and without the security concerns of Latin America. On top you are a short and inexpensive plane trip from Paris, Rome etc... for great getaways.
The health care system is good and extremely inexpensive in comparison to the United States. The weather is good for outside activity year round, and the lifestyle is healthy.
A retired couple from Florida who moved to Valencia last year each lost 20 lbs in the first 6 months without dieting from walking more and living well.
It really is a great place for anyone to live but perfect for retirees.