I don't mind the concept of Transit City, as a basic concept, at all, actually. There are some pros:
1. Some routes will be well served - Finch West in particuar, Don Mills north of Eglinton is also a good route, Waterfront West isn't bad either.
2. The idea of planning a network rather than one-offs is the most 'revolutionary' part of the plan. However, a conceptual network shouldn't also be your final plan.
3. I am hopeful that Eglinton will work well as planned. The tunnel through the congested part and surface west of Weston Road and east of Don Mills completes Eglinton into one route - the biggest problems with Eglinton have always been the part they plan to tunnel. The Eglinton-Kingston section of the "Scarborough-Malvern" route will also be successful. A DLR to Eglinton-Don Mills and LRT heading in three directions will likely work well. At least Eglinton isn't doomed to Sheppard's fate.
The cons, however are as follows:
1. Transfer City - Sheppard East is very political, and will forever muck up crosstown commuting. There's no concrete plans to connect STC to it, a huge mistake.
2. Jane - not so much the idea, but more that it could just be a quagmire, a sinkhole, if you will, because the street is narrow in many places all the way up to the 400/BCD interchange. Munro prefers the Weston sub for light rail, and I agree with at least that concept - with a connection to the DRL Phase II at Dundas-Bloor, of course. Regional rail with a stop at Jane would whisk a lot of people towards downtown and other transit lines.
3. Bloated expectations and a dubious sales job. TC ties itself with some other good initatives - Avenues, the highrise renewal idea, the priority neighbourhoods, but there's a claim that all are tied to each other, when they are really distinct initatives. Priority neighbourhoods means addressing a deficit of community resources, though better transit is probably a good thing. Highrise renewal (ERA) is a wonderful idea, I sat down with Graeme Stewart who sold me on it, but there's a lot of disconnect between the highrise clusters and TC. TC doesn't do a wonderful job of following the Avenues - Sheppard West is one of the best examples, and has only the inadequate 84 bus serving it. Much of TC won't be that much faster than the buses they will replace, except Eglinton.
Simply, LRT should have been one tool in a "transit city" box, not the end all solution to all of life's problems.