i am right downtown Toronto..lol and have bike lanes outside my home... most cars(including police) park there to get their Tim hortons.. soooooo although riding in the city is daunting... if you keep aware you can find some great rides around... get to Cherry Beach and ride through to Thompson park... or to Lee, try the otherway along the lakeshore/queens quay and stop for ice cream by sunnyside yummmm
don valley is interesting, brickworks when you get your mtn bike and if you really want to do some road cycling.. check out the Toronto Bicycling Network... their site has rides going out all the time.. hit up with a group and you will have a ball.
good luck and have fun..
p.s. cars can be fun when you draft them ....