I would definitely recommend Hanoi as a place to live and teach English. It is well paid here (between $10 - $24 an hour) and the cost of living is relatively cheap. For example a 4 bedroom house can be rented for US $500 a month, food can be bought for around a dollar a meal and a glass of fresh beer is 15 cents!
I have been living here for 6 months now and am really enjoying it. You can visit my blog at:
http://lifeinhanoi.blogspot.com
Graham