And we're getting a subway.
The cancellation of the outer fringes of Eglinton are not that huge a downfall, but are a minor cost compared to the project as a whole.
Unfortunately Ford's plan depends on cancellation of Eglinton to pay for Sheppard and BD. In reality enough money could perhaps be scraped together to extend the BD to STC, but completing Sheppard would require sacrificing Eglinton. What's a better use of money, Eglinton or Sheppard? Probably the former.
Also, the airport connection is a bit of a political hot potato. It's probably been postponed into never-never land but no politician wants to formally declare it dead.
So, let's count what we have. We have BD to STC no matter what (or an upgrade/extension. It would be close to cost neutral, though building the subway would sacrifice the extension of the SLRT to Malvern). We have money for one subway extension - Eglinton, Weston to Don Mills, or Sheppard to STC and maybe Downsview. Of the two, Eglinton is probably more useful to more people. If we do Sheppard we might have enough money left over to build another LRT line somewhere, enough to do Eglinton's surface segments, maybe, but they wouldn't connect to anything. Finch may or may not survive; it would likely end up sacrificed to pay penalties associated with cancelling current plans. If we do Eglinton we have money for Finch and Sheppard LRTs.
You have two choices. A subway on Eglinton and LRT on Sheppard, OR subway on Sheppard and that's probably it as the leftover money wouldn't build much else useful. The reality is that more money is not forthcoming. Which really sounds better?
Eglinton:
-Rapid transit on Eglinton (+2)
-Improved transit on Sheppard (+1)
-Improved transit on Finch (+1)
-Eventual airport connection (+0.5)
-BD Extension (+2)
Score: 6.5
Sheppard:
-Nothing on Eglinton (0)
-Rapid transit on Sheppard (+2)
-Possibly improved transit on Finch, if enough money remains (+0.5)
-Airport connection extremely unlikely (0)
-BD extension. (+2)
Score: 4.5