The two spots a decent railway would makes sense is IMO is Hope to Vancouver, and Victoria to Campbell River on the Island.
I have always dreamed that they would modernize the Victoria to Campbell River stretch, not as true HSR but at least to a 130kmh speed, double tracked and electrified.
I don't see why the Island doesn't have that now. In fact I am organizing a transit based trip to the Island this April, and was pissed off to find out that the Victoria to Nanaimo stretch isn't working any more. Oh well, looks like our trip is skipping the mid island and all our tourist dollars will remain in Victoria (it is going to be a group of 30 people).