First of all, this is a question that can better be answered by people who experienced it and those with close contact to them.
RS can be a good source since his parents lived there, probably beatnikzach too, I have spent a lot talking with people from the USSR, I've talked with my gf's mother who is a historian specialized in USSR and Russia's history.
Life in USSR has to be understood in the different contexts that developed during different periods of its existance.
Life in USSR is described by most of the former soviets I've had contact with as a life with material shortages but with great social wealth. The feeling of opression is greatly overestimated and actually most former-Soviets I have had contact with don't even mention it. For example, it's broadly stated that religion was greatly repressed within USSR specially during Stalin's regime, however, I've known from people that lived under Stalinist regime that they practiced their religion without fear and that they even participated in the re-contruction of churches after WWII.
USSR was based during most of its existance on a contradictory economic system:socialist state capitalism. In few words this system needed money to work and spent it in non-profiting enterprises, in other words, money was not invested but spent only. Most of USSR's capital was used in things that wouldn't generate any profit namely free education, free healthcare, social infrastructure and housing as well as the army.
This contradictory capitalism eventually lead to inmense shortages in consumer goods shortages that aggravated during wars, post-war scenaries and the peaks of arms races.
USSR enjoyed a limited prosperity time in which shortages greatly diminished. This period is a period in which USSR diminished greatly its expenses in arms industry and army and diverted more into consumer goods industry. This period lasted roughly the since the start of the 1960's until 1968 when Brezhnev took power and intensified military expenses lasting around 8 years.
Those shortages in consumer goods, reflection of an ecnomic crisis, eventually lead to a decay in the quality of life within the Soviet Union and eventually to its fall.
So, how was life in USSR? The answer: it depends during which period.
1922-1927 Are the "pre-Stalin" years. Of course USSR had inherited a terrible post-war situation in had to recover from something that eventually happened during these years. Dissidents fled, workers were still adapting to the changes but economic growth was rapid. The pace of change must have been somewhat turbulent making difficult to assess the life conditions of that period.
1927-1939 Pre-WWII Stalinist period. Stalin initiated his war against any possible opposition and against the peasantry rapidly eliminating the NEP. This war against the peasantry and several droughts that took place within those 12 years resulted in great famines and murders. The great purges caused great political tensions and greatly hindered the army. Yet industrialization didn't stop its great growth. To asses the conditions during this period I think you have to ask from which person's perspective. Not all workers were victims of famine meaning not all faced hardships while peasants were target of the forced collectivization meaning that from a peasant's perspective those must have been terrible times. During this time there were also massive national relocation campaings in which people were moved from their traditional regions of residence to far away regions. During the Stalinist era many scientific discoveries were disregarded in favour of bizarre but more appealing projects which nonetheless were non workable like Lysenko's agronomic and genetic projects which led to flawed experiments in creation of resistant crops.
1939-1941 USSR's preparation for war and engagement in moderate scale conficts that didn't have a great impact to the whole soviet population.
1941-1945 USSR goes through a war that takes the lives of nearly 30 million soviet citizens. In besieged cities famine, despair, canibalism, disease and death were common scenaries.
1945-1953 Post war period, start of the cold war. Most of the man-power was working to rebuild the nation and increase the military industry. During this period the war still had great effects on the people. Cases in which defective grenades, ammunition and bombs as well as mines took the lives of people were common. In general the country war recovering from the bloodiest war it had seen. In 1952 Stalin initiated a 2nd wave of purges which was to last until his death.
1953-1968 Post-stalin Era. After the death of Stalin a process of destalinization took place not only eliminating the great cult of personality around Stalin but also eliminating lots of his policies like capital punishment for abortion which had been stablished since the start of Stalin's rule. During this period the Soviet Union experienced an increase in personal freedoms and an increase in investments for the consumer sector of the population. During this time control over political dissent was somewhat eased and expenditures in military had decreased for resources to be diverted into the consumer goods' industry. The space and nuclear races ensued the latter allowing for a loosening of investment in the military. Soviet society experienced a relative period of "burgeoise prosperity" in which there was a relative abundance of consumer goods in comparison to other periods.
1968-1985 Brezhnev and succesors' era. USSR intensified again its arms race and reduced again its investment in consumer goods and increased greatly its expenses in military. USSR started entering a great economic crisis. Prostitution greatly increased, corruption increased as well just as alcoholism. USSR entered a war that took its toll on the USSR catalysing the effects of the economic crisis. During this period and the following crime rates steadily grew until the y reached critical points by the mid 80's.
1985-1991 Gorbachyov era. Gorbachyov's reforms gave a final blow to the USSR. Gobachyov's operture policies allowed the crisis to be known widely not only inside but outside USSR increasing dissent. Tolerance to other parties increased as well allowing the formation and strengthening of nationalist groups witin the republics of the USSR. The crisis increased greatly as the invation in Afghanistan became less sustainable. The entrance of foreign companies to the USSR gave the final blow to the already collapsing soviet industry. It was a time full of political and economic chaos. Lots of persons fled the USSR. Chernobil's incident took place aggravating the crisis at all levels. Republics separated, civil wars ensued and the USSR eventually collapsed leaving a bunch of shattered nations full of poverty.
In conclusion, Soviet people's lives were mostly surrounded with a very fluctuating economic condition. Material scarcity in the civilian society struck the soviet society for most of USSR's existance. Yet, most people had access to all levels of education, housing, healthcare and infrastructure. Many former soviets had told me that, inspite of the material scarcity, people were far more fraternal during USSR, people were far more patriotic and educated than they are now, the cultural intregity of USSR greatly surpassed that of Russia, mental illness in USSR was far more scarce than in actual Russia and crimes were much less frequent in USSR than they're now.
There was material scarcity but human-quality wealth, in the words of my gf's mother.