If you go to New York you can go almost anywhere on a subway. For a city the size of Toronto our subway system is laughable. But lets add more streetcars (a mode of transportation eliminated in almost every other juristiction).
Personally, I think the subway to Vaughn is retarded and a waste. We need a relief line downtown as the Yonge Line is basically at capacity and also the east and west like you mentioned. That's going to take some serious cash though which would probably involve service charges and or some sort of tax...