I should probably report back on my search and what I've found:
MEC is a nice place for some cheaper tools, but to be honest, I really like the quality of Park. You can pretty much get anything you need from MEC though if you're on a budget.
Urbane is probably the best place for Park tools I've found so far in Toronto. They have most of the wrenches, BB and crank tools, etc. If you're looking for maintenance tools and are getting fed up with the fact that popular sizes are out of stock everywhere, then Urbane's your place. Every store I went to had run out of 32mm Park headset wrenches except them (and if you think I'm being picky, I already have a Wrench Force 32mm that's actually closer to a 33 which is stripping the hell out of my headsets - quality matters)
In the GTA however, Cyclepath Oakville is probably your best bet, particularly for bigger ticket items that aren't regularly in stock at Toronto stores. They can usually get something in within 2 business days which is lightening fast. They also ship, but the cheapest option is to obviously order online or over the phone and to pick it up when it's ready.