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What kinds of things could potentially make you either miserable or just less happy at the new job, and what more can you learn about those specific aspects? What do you know about your supervisor there? Have they been completely clear on hours and duties?
Would your current employer expedite a pay raise if they knew you were offered the other job?
Will the closer location actually result in a bit more free time for you, or is there a chance it would get swallowed up in working overtime?
Do you have a clear idea of the top-down work ethic and general focus of the business? Because even if your immediate boss is a sweetheart, the top dog is the one who ultimately makes or breaks the work atmosphere... Someone who is very, very sales oriented may undervalue or misunderstand tech/creative people, for example. What is the background of #1?
What's the turnover like at the new place? Lots of turnover is a bad sign.