I really don't understand how city place ruined anything ... most of the city place towers are actually very impressive from the 2nd floor up, particularly from the south.
Regarding the notion to stop development and "catch up", I'm not sure how stopping development would help ? In theory the more development the more money available to pay for such projects, of course it doesn't work out that way (i.e. has the city directly imrpvoed any area ... sure there is Bloor but that was driven through the BIA and Queens Quay through waterfront Toronto).
I've never liked Toronto's skyline from the lake, it's much better viewed from the east or west.
The amount of development around King west is really the amazing part, same goes for King / Queen east, but the pictures don't do it justice as they're generally sub 20 floors.