The level of improvement is merely cosmetic at this point. The TTC has added some vehicles information but on subways, the most reliable system, where that is not needed, since a train always arrives at worst-case every 5-6 minutes.
There are many serious problems with transit in the GTA, some of which have already been mentioned, like lack of integration between systems, silly fare borders (Steeles), etc..
One major thing that I find is strange in Toronto specifically is the stupidity and closeness of transit stops be it subway, tram or bus. For subways, it slows the through speed and reduces the average speed. Not a major problem, but creates more stations and higher maintenance costs all to serve a relatively small area.
For trams/buses, the stops are on average way too close. The most annoying is having stops on both sides of an intersection. That to me is the most retarded thing I've seen. Its definitely a Toronto thing. People here complain surface transit is slow, but they also start bitching if TTC wants to space out stops as they wanted to do with Transit City.
While being close to a transit stop is important, what is more important in Toronto specifically is that fact that Toronto is NOT a small city. Distances are huge. Putting stops close together (250m or less) causes the average speed of surface vehicles go down to a crawl.
The next major issue is lack of rapid transit. Our rapid transit system consists of the GO rail lines and the 2 subway lines. All essentially are there to get you to Union.
Reality: Not everyone wants to go to Union. Most of these GO transit improvements are meant to increase capacity to Union. While some capacity is definitely needed, what is needed even more is new lines that criss-cross the GTA, through mid-town, up-town, north of town, etc..
To me, Transit City is NOT rapid transit, lets admin to what it really is, it's an improved local transit system, with all-door boarding, separated ROW, and supposed signal priority.
Rapid transit requires rapid speed. 23km/hr for Transit City = slow. Rapid transit needs to be at least 30-40km/hr within the city (subway), and 50-80km/hr (regional rail) suburbs to city or inter suburb.
We are getting some improvements, but even at this pace, we will never catch up. Projects take too long to be planned, designed, consulted, financed, finalized plans, finalized designs, built.
Main problem here is that projects rely on unstable funding and require too much consultation. We over-consult the public on everything. While some consultation is needed, too much leads to trying to please all steak-holders, and that's not possible. Compromises need to be made, and projects need to be built fast.
My biggest fear right now is that the city will be crippled by Transit City construction as it will not take 3-4 years per project, but will likely take 6-10 years due to complaints about noise, and stiff labour unions.
We need to built them at break-neck pace, which means 24hr construction, where warranted to get these projected completed ASAP. Projects here take way too long to start construction, and construction time takes way too long here considering the high cost we pay for it.