What we really need is a second route between the urban core and the west shore. Ferries, rail lines, hov lanes, whatever, only mask the massive problem of having a poorly designed infrastructure network.
How about an extra inbound lane on the TCH from the Colwood interchange to the Burnside pull-off, then an upgraded Burnside and Government St. into town? So an extra lane inbound on Douglas between Burnside and Gorge/Government.