It most certainly is...if I'm not mistaken, the elevated section is reaching the end of its service life, and will be due for a full deck replacement within the next few years. That alone may force the issue of tearing it down, even if the scale of development nearby is making it seem quite irrelevant.
Incidentally I just spent a week in Boston, where the final results of the Big Dig are plain to see. I have to say, it sucks. For almost $15Bn, the North End still feels just as cut off as it used to, and the boulevard replacing the Central Artery is really nothing special. If Toronto goes this route, let's hope it's done much better...and cheaper.
