The tolls need to apply at a lower rate during off peak hours as well, and any toll on the Gardiner should also apply on Lake Shore east of the Humber River. Everyone knows that traffic jams on the Gardiner and the DVP occur outside rush hour. Also several of the 400 series highways ought to be included in the scheme if the province will allow it, particularly the 401 between the 427 and DVP/404 which has very severe traffic congestion.
I disagree with tolling outside of peak. The purpose of tolling only peak is as follows: It encourages transit use for commuting purposes. The secondary benefit is that some people would shift their work hours to either starting earlier or starting later, spreading out the load. If you toll outside of peak as well, that second benefit is gone.
The goal of tolls however should not be to eliminate congestion, it should be to raise enough revenue to help pay for enough transit expansion to make it a viable alternative.
And the reason why I suggested the DVP and Gardiner is because they are both city-owned roads, and they wouldn't need the Province in on it.
As for tolling the 401, again I agree that it should be tolled during peak periods, but it should still be free during off-peak periods. If people don't want to sit in traffic, they can pay for the 407.