As the council considers the biennial review of the Downtown Specific Plan, and the General Plan update, it's good to keep the present traffic state in mind.
Remove a lane for bikes; take a lane for busses; take a lane of construction for projects along El Camino. All will have at least a temporary negative impact.
Consider this Waze view of El Camino traffic during rush hour – without the above improvements - temporary or not. This photo portrays a weekday rush hour. Highlighted in red is El Camino from San Francisquito Creek to Valparaiso. Also in red is a short section on Willow (south of Middlefield) capturing traffic that was previously diverted down Ravenswood while the Right Turn on Alma was blocked.
We know that some development takes a lane of parking/vehicles from Palo Alto downtown projects: the Survey Monkey project, and nearly completed two projects on Hamilton. Temporary loss of a traffic lane would likely happen for the major projects contemplated on El Camino in Menlo Park.
Regarding the General Plan, I recommend keeping the Bart option down the peninsula.
(Note: The comments below raise consideration of which transit approach is more beneficial to the Peninsula, High Speed Rail to LA, or a BART extension SFO/Millbrae to San Jose. Worthy of its own post.)