I'm very happy to see Bixi arrive in Toronto.
Sometimes it doesn't make sense to walk a block or two to the subway, to ride two stops, and then walk another two blocks. And if traffic is heavy, a taxi may take just as long.
With Bixi, there's a new option, and it's great. I'm in that happy spot where the teams I work on are full of young people happy and willing to try out 'craaaazy' ideas like renting a bike to go to a client's office, so we did just that last week. We saved the client money by not taking a cab - I know the fares, and the savings were close to 50% - and given how long it took, we didn't waste any of our time either. Judging by downtown Toronto traffic these days, our mode of transportation was faster than driving.
The only thing Bixi lacks is 4-person bikes - for you and three kids. Though it'd probably be best for those to belong to people who know what they're doing, like the owner if this fine bicycle in Amsterdam.
Oh, and an expansion of the network to cover more of the city will be fantastic too once enough money can be found to support it.