I only tried out Toronto's transit system for a long weekend - and I was only downtown - but it was alright. I took the subway and the streetcars (no buses). I was able to get around fairly easy.
The Good:
-Streetcars. I love streetcars. I wish NYC had 'em.
-Best priced weekend pass ever! $10.75 a day that includes TWO adults! What the! Shame on the MTA of NYC for getting rid of day passes years ago (basically to rip off tourists)
-New subway cars (I was able to ride them twice on the Yonge-University-Spadina branch)
The Bad:
-The entire system needs updating like crazy. Whenever I went into a subway station, it felt like traveling back in time. They still use tokens. The turnstyles in the subway stations are like 20 years old. The streetcars look like they've had better days - and need a good scrubbing.
-I'm no Ontario citizen or taxpayer, but it seems as if the TTC subway system needs to be expanded. Toronto has swelled to over 5 million people yet there's only three subway lines? The population continues to grow and the crowding is going to get worse.