Of course, the mayor is excited. It's just one more bullet point for the Chamber of Commerce and local Realtor's to exploit.
The trail system is great for recreational purposes, if you don't mind sharing the MUP with rollerbladers, young families, and the powerwalking bridge club types that walk 4 abreast (heaven forbid they actually have to break formation so that others can pass). From a transportation/utility aspect though, it pretty much bites. There is little to no retail along those trails, except at trail heads in other cities.
That being said, I'm still glad they are doing something, and I will be attending the Bike to Work event on the 15th.