I had read this report regarding traffic signal prioritization. In this case, the payout time I had calculated was only 4 months.
http://www.calgarytransit.com/pdf/TSP_AVTS_Summary_Report.pdf
weekday passengers 21,000
weekend passenger estimate 7,000
total weekly passenger 119,000
weeks in a year 52.2
total passengers per year 6,209,117
before signal delay round trip (seconds) 742
after signal delay round trip (seconds) 621
difference round trip (seconds) 121
trip savings (assume 25% of round trip in seconds) 30.3
time savings annually (seconds) 187,825,801
time savings annually (hours) 52,174
actual costs $420,696
average hourly rate $25.65
annual savings $1,338,258.83
monthly savings $111,521.57
payout time (months) 3.77
It'd be interesting to know which transit routes have been traffic prioritized at this point and which are planned for the future. If citizens are looking for compelling reasons to use transit, this would be a nice feature to be aware of.