I'll believe it when I hear the first incomprehensible announcement over the crappy PA system

"Gov. Eliot Spitzer and a host of dignitaries will descend through a sidewalk hatch at Second Avenue and 102nd Street, a block south of the spot where Gov. Nelson A. Rockefeller and Mayor John V. Lindsay held a groundbreaking in October 1972. They will go into a never-used section of a three-decade old subway tunnel, stretching from 105th Street to 99th Street. The governor will give a speech, hoist a pickax and take a few cracks at the concrete wall, symbolically beginning the construction where it left off in the 1970s."
-NYT

They've been talking about building a Second Avenue subway system for decades, as this Times story notes.

If it actually happens, though, the value of my apartment will increase three-fold, so, yay Spitzer if he succeeds.