I disagree. 'A few stations every few years' is the approach which got us into this mess in the first place. Because what would end up happening? The costliest option would be taken (underground heavy rail), 'a few stations' would turn into ten, and 'every few years' would turn into once + never again. The ghosts of Metro Toronto's suburban political dominance and anti-downtown sentiment still haunts the halls of City Hall. If downtown has closely-spaced underground heavy rail service, so to should the far reaches of Etobicoke, North York, and Scarborough. If all reports say Light rail should be used, heavy rail would instead be opted for. One station every concession line turns into four. And thirty years later, when reports announce how these 'city-building' attempts proved fruitless, that demand moved elsewhere despite costly rapid transit being in place; politicians will trump experts and proclaim otherwise.
Plus, the city has begun selling all its ample land around Eglinton West. It's already been zoned as unworthy for costly underground heavy rail and will be a spattering of townomes within the decade. Check BuildToronto's site, entire swaths along Eglinton are listed.