I think the "triangle" concept is something old that has been around (I heard it when I was getting ready to show up), but is no longer valid. Tanglewood was mentioned, and there is another relatively new housing division called Lake Wellington that is between the two roads just north of the Memorial stadium (see below). Not only is Wellington a nice area with a lot of IPs, it's extremely close to the #1 rated elementary school in town (West Foundation).
Ditto - this is the same area where I live and they're just finishing up an entire street of brand new houses in our neighborhood. It's a very nice neighborhood, and I would say just under 50% military. It's walking distance to the stadiums (plenty of high school and local college games) and it's a 10 minute drive to just about anywhere in the downtown area. The only drawback is that it's close to a 30 minute drive to the work from door-to-door. If you want to get an idea for the area, go to "Wichita Falls Memorial Stadium" on Google maps and look at the houses that are west, south, and in the southeast corner of the stadium.