I've been saying we should use one-ways ever since I've moved to Edmonton. And not only 104 and Jasper avenues, but other streets as well.
And I'm not denying we need major thoroughfares closer to the core, but I don't believe Jasper, specifically, should be one of them. I'd stick to 104, 107 and 111 Avenue for E/W and 95 and 97 St for N/S at 60km/h with shorter intersection stoplights times and no parking and 170, 149 and Gretzky being semi-expressways to bypass central traffic.
What I'm absolutely against, however, is freeways breaking the boundaries of the cores and cutting through mature residential neighborhoods, alienating them from the core, like happened to almost every major North American city and created the gravel wastelands we see in most of them.
Edmonton is in a very rare and desirable position, not having these great dividers that killed downtowns all across the continent. Few cities have places like Westmount, Glenora, Prince Rupert, Queen Mary Park, etc... which are continuously linked to the Downtown Core and can be improved for transit, bikes and walkability. We make poor use of such potential to create a lively, affordable and accessible city.
All of that said, I'm not at all satisfied with the current project on Jasper. It is underwhelming and doesn't address any of the structural issues with the avenue. It's still a "stroad", not an actual complete street (full of good destinations, fine grained and walkable) nor a road (linking points A and B fast and simple)