I agree with all of your points, if you're coming from a realistic perspective. Although I do think that if there's an LRT on Wilson, building both Wilson and Finch West out to Yonge would be wasteful in the short term, since neither corridor has incredible development potential inside the loop but having at least one might be necessaery as a relief alignment.
I definitely think Lawrence East should be a priority between Don Mills and Markham Road, maybe even as far as Leslie and Kingston. Kingston I'm less sure about, as I think for crossing the regional boundary a BRT might be sufficient, given a high enough frequency.
...so I ended up making a mockup for both.
View attachment 195779
This is the Lawrence East line. It has interchanges with other lines at Don Mills Station (now conveniently located in Don Mills) and at South Creek Station (a Stouffville GO connection). I struggled with naming stops in this area because so many of the neighbourhoods span greater distances west-east, and I'm very unfamiliar with this area. The line between Don Mills (an established hub) and Woburn (an area ripe for redevelopment) is the main corridor, with optional extensions towards Banbury and Kingston Road.
View attachment 195780
This is the Wilson line. No interchanges with existing lines except Line 1, but Wendell could theoretically intersect with GO service to Woodbridge/Bolton/Alliston. Though I do doubt the usefulness of such a connection. Again, naming stations was difficult between the two rail lines because pretty much the entire neighbourhood is just "Downsview". The station at Keele I am totally stumped with, and I don't like "Sinai" because it reminds me of the Mount Sinai hospital downtown.