The TTC has launched a PR campiagn to get $$$$$ for a significant implementation of 'light rail'.
The $6.4 billion dollar question is whether such a system would be true 'light rail' - or simply more mid-numbingly ineffective streetcars.
Already we're seeing that the plan is really more just streetcars. One of the lines would run down Jane - the plan being to have this on the surface. As the southern stretch (down from Eglinton to Bloor) is a standard Toronto 'arterial' - 2 lanes each way with no room for widening - there is no room for LRT.
So would Toronto's LRT be like Calgary's. I've included am image (from Google Earth) of just one of many cuts (tunnels) under intersections that make Calgary C-train successful - because of speed. This one is typical.
Those expecting Toronto to invest in such infrastructure are overly optimistic.