I don't understand the mindset behind such comments. If BRT (Bus Rapid Transit) that stops at traffic lights is rapid transit, then LRT that does exactly the same thing, at the same speeds is rapid transit.
BRT isn't true rapid transit either.
Calgary's CTrain (LRT) is true rapid transit. At every intersection outside the downtown core, the LRT is treated like a railway. It is given right of way through railroad style crossings, while at busy intersections the LRT is grade separated. Observe:
http://www.youtube.com/watch?v=tYyhoO0_llc
Eglinton and to a lesser degree Sheppard could support this type of system. This is how I imagine LRT on those routes:
On Sheppard, the subway cars would be replaced with High Floor LRVs, such as Calgary's Siemens SD160. The LRT would then proceed at-grade along the side of Sheppard (lower cost than the median). The at-grade section will use high floor trains for seamless travel across Sheppard. The at-grade stations will have platforms for wheelchair access. Minor intersections would be eliminated, and major intersection will either use railroad style crossings or have grade separation. The line would terminate at Scarbrough Town Centre and Downsview Station.
The mistake was made by building the Sheppard Subway in the first place, but Toronto should not make another mistake by creating a disjointed transit network.
On Eglinton, the line would be identical as to what it is now, but minor intersections would be eliminated. At major intersections their will be railroad style crossings or grade separation, depending on the size of the intersection.
Finally for both, the ROW would be dedicated to only LRT. So no emergency vehicle or bus would be allowed to operate on the ROW. The tracks would not be encased as to discourage people from driving on the ROW and also to increase the speed of the train. The LRVs will run at a speeds of 80 km/h between stations. Finally, increase the stop spacing to 1 stop per 1 KM to 1.5 KMs.
But sadly, I don't think this kind of LRT is politically feasible in Toronto.