^^
I agree that this area is better suited for a signature or significant office tower, the likes of Scotia Plaza or Brooksfield place. From the perspective of the square, it would do a lot to enhance the mid-rise feel of the immediate surroundings (Atrium, Eaton Centre, Ryerson buildings, St. Mikes, etc). From the perspective of the skyline, it would do a lot to creating a more linear pattern to our skyline instead of the pyramid pattern we have in the financial district. With Aura and 1BE just up the road, Toronto's Yonge corridor would look very very sleak with point towers at key subway stations.
However, I would warn against putting the tower where Hakim optical is as it would cut off a nice view of the financial district and our existing skyline. Placing a tower where torch is or on Dundas east would be an ideal location from both perspectives mentioned above.