Welcome to Calgary King Fisher! You now live in the right place if you love fly fishing... There are countless excellent river and still water opportunities w/ in 2 hours of Calgary. I would maybe recommend purchasing the 2012 Alberta Fishing Guide (it's out now) and look up some rivers/lakes to check out. You will frequently hear about the popular spots like the Bow, Oldman, Crow, Raven, etc but there is many, many more... You just have to go out and do some exploring.
There is lots of helpful threads about the Bow on this forum so I wont go in to detail but yes it is one of the best rivers in Alberta and it is as good as it's reputation. It just takes some time to figure out how to fish it, maybe start by looking in to the hatch chart as it varies week to week and month to month through out the year.
Good luck!!
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