Psh, Ignacio's post is really helpful - the American School (ASM) sits on the border of Aravaca and Pozuelo, and if you're planning to send your children there, you might well live in Pozuelo or the area. (The American expat community is huge there - especially families with children.) It's great to hear there's a good gymnastics club there, and with such outstanding former students! What luck - you couldn't ask for a better location! And getting into the city of Madrid is easy from there.