Well it's pretty much a moot point since the expressway is done (for the most part). I guess it's a wait and see kinda thing. I live right next to it so I can tell you first hand if the air is noticeably worse or not a while after it's in full swing.
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All it does it create a faster route for Toronto commuters to get to their upper stoney creek townhouses.
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I'm not sure that's all it does, but it definitely does that. A friend of mine (and a few of his acquaintences) are happy about being able to use the expressway on their commute to/from work as they live in Stoney Creek mountain and dread using Highway 20 (especially in the winter) to get to Burlington's GO Station.
Coincidentally a co-worker who lives in Milton (works in downtown Toronto) has expressed interest in moving to somewhere in the east mountain. When he asked about the commute to Toronto, I mentioned the expressway and that made him think even more seriously about moving here.