Yes it should for 505 and 506.
A few others:
Victoria-York-Simcoe for King and Queen
I think you and I had a good discussion about this a while back.....and I just wanted to reiterate that I would address the stop spacing in the King University area a bit different.
I would not eliminate Simcoe but, rather, Universtiy. I work right at King and Uni and spend an inordinate amount of time staring out of meeting room windows at the streetcars and what I see is a pattern like this (a lot)
WB streetcar approaches University....traffic is moving so light is green......
Streetcar stops to let passengers off and pick up passengers.
By time that is done lights have changed and streetcar stops again.
Light changes and Streetcar passes through intersection
Streetcar stops at Simcoe to pick up and drop off passengers.
So, essentially, a great number of the streetcars stop 3 times in that very short stretch.
Eliminate the University stop and it is down to one and no harm is done......you still serve the subway via the path connection at 200 King W and with the longer streetcars the backdoors would be within easy sight of the subway entrance on the NW corner as well.
Same happens EB and, again, the Simcoe stop could serve the entire area but there would need to be clearer signage as I get the impression that a lot of people don't realize that the doors to RTH also get you to the subway fairly easily too.