Once the Dundas BRT is built, it will be faster to use the LRT and the BRT to/from Kipling than the Transitway to/from CCTT even with transferring.
Once line 5 opens I imagine many transitway travellers will benefit from Eglinton as an alternate route into Toronto. Take for example approximate travel time Renforth to St. George:

Bloor Route: 36+ mins to St George
MiWay / GO: 13+ minute bus ride Renforth to Kipling
Line 2: 23 minute train ride (12km, 15 stops) to St George

Eglinton Route: ~26 mins to St George
Line 5: ~17 minute train ride (13km, 11 stops) to Eglinton West
Line 1: 9 minute train ride (5km, 4 stops) to St George
 
Once line 5 opens I imagine many transitway travellers will benefit from Eglinton as an alternate route into Toronto. Take for example approximate travel time Renforth to St. George:

Bloor Route: 36+ mins to St George
MiWay / GO: 13+ minute bus ride Renforth to Kipling
Line 2: 23 minute train ride (12km, 15 stops) to St George

Eglinton Route: ~26 mins to St George
Line 5: ~17 minute train ride (13km, 11 stops) to Eglinton West
Line 1: 9 minute train ride (5km, 4 stops) to St George
Bulk of the riders will not be using Line 5 unless they are taking line 1 to it by either Yonge or Spadina section. Need to allow the extra travel time.

I will be using Line 5 to get to Yonge when I do my photo shoot of the area, otherwise out out my way.

From miWay Kipling to Yonge is a 7 minute walk to the subway plus 1-5 minute wait for a train based on time of day and day of the week and a 30 minute trip to Yonge from my timing of it. Then there is the travel time to Bloor/Yonge.
 
The problem isn't travelling on the 407, the problem is the station accesses. Its great, GO Busses are able to fly down the 407 at high speeds never worried about traffic, but the moment the bus has to leave the 407 to serve a Park and Ride or a GO/TTC Station, everything goes downhill. Existing park and rides don't have infrastructure that is optimized for busses to immediately access upon leaving the highway, meaning every additional station/stop easily adds 5-10m of end to end travel time, and also means that GO has to further rely on various express services to skip stops to keep longer distance trips at reasonable travel times. By building a transitway where serving a stop only requires the bus to briefly stop at a platform, that 5-10m runtime penalty is reduced to 30s, to say it would result in massive travel time and operational improvements is an understatement.

I will add on by saying that there is a great example of a bus saving time by skipping stations. Look at the 41/41A for example, the regular route services RHC in between Consumers Rd and Highway 407 Station, but the 41A skipping it saves a whole 10-20 mins of time entirely going directly to those stops (depending on time of day).
There are a few places where better highway-to-station accesses would go a long way.

Having only a partial interchange at Bramalea Road causes pain for lot of bus passengers at what should be a prime intermodal hub. The 407 charges a fortune to GO for using the highway though, so I wonder if Metrolinx wants to bake it in further.
This 407/Bramalea interchange is the only thing that stops the travel between Square One and Union via Bramalea GO the best one. When the 410 and Steeles runs well, along with the 30 min train service, it could be faster than taking a direct bus or travelling to Port Credit for the LW train.
 

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