I don't think gauge is an associated with costs (there's likely a smidge but nothing to write home about). It's about sharing a system, and taking advantage of the supposed ~150% greater capacity that's touted for OL. We can use those same cost-savings advantages (i.e smaller stations) to a Sheppard extension. So if OL is 100m trains/stations vis a vis a 140m TR (35k pphpd), Sheppard could be 40m trains/stations. They're better at handling grades and turns? Take advantage of that too and perhaps use Line 3's ROW.
Another alternative would be extending Sheppard as 3-car TTC legacy subways. Good too. But arguably less so than something a bit more nimble. If plans backtracked and Line 3 was to be upgraded to Innovia Mk4, consider that too.
Basically anything other than a 6-car TTC train. It's just so massively overbuilt to do that and is the leading reason the line was cut short at the outset, and has remained that way. Didn't reach Vic Pk, nor SC, nor Downsview. Sure some will claim it's a conspiracy by the elites to deprive the outer 416 of subways. But it's not. It's costs of building such oversized infrastructure.