I think the trips to/from downtown that currently rely on the Transitway will benefit from the reliability - my own trip home for example currently is 20 min on those rare ideal runs during the afternoon rush - usually closer to 30 min
but with the train a hopefully-consistent 23 min
The real loss will be my commute to/from the old Nortel - currently there's the 101 or 103 for a pretty quick and direct 28 min
but with the post-train changes will take 50% longer
I don't see why they're cancelling the 101/103 at this point. There's lots of people who rely on it to get to Carling Campus, particularly from the east end. Stage 1 and the 101/103 don't overlap; they serve different commutes. Even if/when Stage 2 is up and running, 101/103 would still be a useful crosstown express.