Personally I feel like the streetcar is nothing-ventured-nothing gained project. The streetcar in Portland has attracted a lot of development, and it is preferable to buses because it is so much more comfortable and somehow seems more reliable (whether it is or not). South Lake Union already seems to be attracting tenants. Since much of the money for the streetcar (even with cost over runs) came from private property owners, I think it’s a good deal that for the city, and a nice chance to see if these kinds of streetcars will work here. Unfortunately the line is too short to be really useful (it would have to go at least to UW to be), but it could be the start of something great, or a mildy inexpensive boondoggle.