My eyes are confused, half your ı's have dots and half don't D;
Hehe.
Anyway, Leıcester has something a bit like this but on a much smaller scale and actually nothing like it at all...
Narborough Road. One mile about of eight lanes in four carriages, done like this:
------------> local slow & buses
<------------ local slow & buses
==========>
==========> 50mph dual carriageway
<========== 50mph dual carriageway
<==========
------------> local slow & buses
<------------ local slow & buses
Seems to work well. But the buses aren't very regular so it's not exactly rapid transit.
Looks like this:
http://www.leics.gov.uk/completed_scheme-2.jpg
Edit:
Wait a sec, we tried it here! And everyone hated it.
http://www.greenflag.com/news/stories/assets/N0072501289816510890A.jpg