Overall I am very happy with this outcome.
If we put politics aside and look at these plans objectively, both have their merits and their faults. The light rail option was hardly some bastion of fiscal responsibility like some argue, spending x millions of dollars to... change the power supply of the track. Perhaps in the long term it would be beneficial since it would make new vehicle purchases more affordable, but in the short term it is an absolute boondoggle. This says nothing about shutting down the line for several years for this retrofit to take place.
Another benefit of the subway option is that it will better create a moderate transit speed connection between Scarborough and Durham. MiWay, Zum, and Viva buses all connect to downtown bound subways, or will once all is complete. However Dart buses will be unique in having this jog to contend with under the light rail plan.
Best of all, if the upper levels of government do not commit (which we may find out in as little as 45 minutes from now), then we have the light rail plan to fall back on. Overall I don't think it is as good as the subway extension, but it is a very good plan nonetheless with its own set of benefits.
I'm not saying the subway plan is perfect. As pointed out, the walk to the mall will be longer, though hardly as unbearable as some argue (guidelines for walking distance to rapid transit tend to be up to 1km, this walk will be less than half of that). I'm also perplexed by why there is no stop at the Brimley/Eglinton/Danforth junction, as there is both current and potential density in this area (and this from a transit agency which is almost obsessed with putting stops too close together).
I just feel that some are looking for reasons to discredit the subway option because it wasn't proposed by Saint David or other leftist politicians, rather than critically analyzing both strategies and weighing the pros and cons of each.