I think the main point being as far as Lebrons decision is: Lebron is a coward. He joined up with Bosh and Wade in Miami to avoid being the sole person responsible for an accomplishment or a failure. He'd rather have whatever blame split 3-ways, instead of facing the music.
If Lebron had went to Chicago or NY he would have been expected to shoulder the responsiblity of a chamionship almost immediately. If he was a man he wouldnt have such a problem hoisting a team on his shoulders where he's the sole superstar, and expectation falls on him. People on the subject of Lebron confuse talent with desire, in this example, Jordan wanted to use his talent to be #1, and win a ring...Lebron wants to have a ring.
Had Lebron gone to Chicago he would have been the star to come into a solid core, and spearhead them to a championship, had he gone to NY he would have be the superhero swooping in and carrying them to a championship. Instead he got himself a fat check to share the glory or blame with 2 of the other stars. So at the end of the day in a few years when they dont win a ring he can throw up his arms and go "Yeah we didnt win...but it aint all my fault."
Had he been a man about the whole situation he would have either signed with NY or Chicago and been the man with the will to bring a ring to a team. Or IMO, in the ultimate show of fortitude, he would have resigned with Cleveland and played for free or have the team donate a protion of his projected salary to a charity. In the ultimate exhibition of selflessness he would resign with his hometown team, and relieve them of the burden of his giant salary and give them the financial room to bring in the tools he needs to bring the city a championship. Let alone that would improve his image into being the ultimate team player, and one of the best guys in sports. But Lebron is a child, who wants to do him, get payed, and not worry about taking full responsibility.
As far Jordan, he has a valid point. In sports you need to want to be the best, and proving your the best means defeating the other "best" in the league. And more-so in baseketball then Baseball or Football, you have the oppurtunity to go head up against the players challenging your top seat. And in another sense, leading your team you built against the next best. Lebron teaming up with Wade and Bosh, eliminating them as competitors and building a wall of players to, supposedly, smash on the lesser teams in the league, and essentially build a record to assure a playoff birth, and then call on all that talent sans desire to win a ring. Jordan is a dickhead, everybody's known that for years, but he has a point and as far as basketball and team building, he deff knows what he's talking about.
My 2 cents.
edit: As far as Lebron playing in Miami cause of nightlife and bitches, dude has the money to jet wherever he pleases on a daily basis or fly in however many bitches he chooses. It doesnt matter what the city is like, he's a young rich ballplayer, if he wants everything to be a party he can do so wherever.