yup - my bike commute is currently 45 to work, 40 minutes back door to door(trying to get faster)
bus is 45-1 hr to work (door to door with x-fers), and 1 hour home
the street busses are full and slow, and the express busses, (which cost more, use the freeway, which is packed and slow). but with express bus sometimes goes faster, and no stops and not as full.
here in denver RTD also busses high school students. need i say more. but i do bus to work if i'm stayed up late or bad weather, i use it as my reading time.
also we'll have light rail trains opening in a year, so that will be nice if the weather's really bad in AM or PM, can take bike with