while i prefer two-way traffic, i don't think it's the be-all and end-all for main street's woes. adding two-way LRT to main and altering the traffic lights so they're not synchronized is probably sufficient.
i like the idea of clustering LRT to the north, though having them on opposite sides of the street provides a decent buffer for pedestrians. there's probably no perfect solution to main st. as long as it's considered a major throughfare.
there might be traffic/safety issues with LRT crossing the 403 bridge against merging traffic. to avoid reconstructing those ramps, etc., LRT could be re-routed up dundurn and along king to paradise. it would probably be cheaper than the alternative. in this map, westbound LRT is red and eastbound is blue.
regardless, any rapid transit in this city must be given priority over cars or it's not worth the investment. i fear that we will never understand that fact in the hammer.