Also, I didn't realize we had this transportation forum, so let me re-post this here:
MTC just got the only TIGER Grant in the SF Bay Area, and it is for a Core Capacity Transit Study. Read more about it in the documents with the Tiger Application here:
http://bids.mtc.ca.gov/procurements/167
It seems they are studying transbay alternatives. I've poured through lots of MTC documents, some have been looking at putting a new transbay tube right next to the existing one with switch tracks on each end. These could be used to extend BART service into later hours (the major impediment to 24 hour service is the fact that the two tracks must be closed for nightly track work). After entering SF and going through the switch tracks, the new alignment could then continue down any street (Mission for example to connect to TTC) and then head west down Geary/Folsom/etc).
This grant doesn't mention heavy rail like Caltrain crossing the Bay. I think one interesting idea that MTC is looking at is to have an intermodal station between BART and the Capital Corridor right in West Oakland, that way one can ride the Capitol Corridor (or SJ's or any intercity Amtrak line) and then have a quick 8 minute ride into the city (instead of the god-forsaken richmond transfer to BART, or bus transfer at Emeryville, or Coliseum transfer to BART). This could make the Capital Corridor and SJ ridership EXPLODE as they now could be used for reasonable commuting. Another idea is to have a new East Bay BART line that directly serves Emeryville, thus providing a similarly direct connection.