I really don't care for this area of the city. I guess it's a lot nicer than it used to be, and it's fostering some sense of "community" (although most of the attendees are usually tourists), but I just don't care about it. To me, it just makes it more difficult for me to get to Victoria and cut through to Ryerson because I have to walk through the crowds.
The only thing that has improved drastically is access to the subway, and that affects my life on a daily basis, so I approve of the staircases. I also approve of the T.O. Tix centre, which I used just recently to pick up tickets, and it was SO convenient and fast. Seems like a great place to get information about what's going on in the city when you're visiting.
Not to get totally down on Dundas Square, I do love the movie nights they have in the summer, and the fountain things are kinda fun sometimes. It is difficult to have an open outdoor space in a city that gets so damn cold all the time.
But it is good that Dundas Square has a bunch of events going on throughout the year. If they didn't, the "Square" would literally just be a slab of concrete with some chairs that homeless people use to sleep on.