Great
I have not heard anything more of the plans to re-open the line since they were announced and wondered if it had been shelved. You're absolutely right about the connecting chords to Moor Street, I'm hoping that once the stations are re-opened and in use, the cost/benefit of building the connecting chords will get much better, along with proof of the demand for the service.
Like you say, we've got decent bus services, and the Rae Valley Route is ok for cycling. It's people living further out who will need more support the most.
Worth just noting though that some headlines are getting this wrong - cars won't be banned from the city centre, they will be prevented from driving through the city centre. So you can still enter by car but only to actually go to somewhere in the centre, not to cut through it to get to the other side. So you go in on one road, and you'll have to go back out to the ring road the same way, you won't be able to go through town to get to a different road out of town. I think this will affect all vehicles, not just cars.