What to do with I-64

The waterfront interstate of I-64 is apparently a huge problem here in Louisville. The approved expansion and "improvement" of spaghetti junction is a huge, messy, 13-year project that will harm, rather than improve the downtown vibrancy and economy. One group has proposed another plan that involves tearing down the waterfront portion of I-64, a plan that has been successfully enacted in other major waterfront cities such as Portland, OR; San Frascisco, CA; London, England; and Milwaukee, WS. You can view a short presentation of the plan here. On first thought, it looks like a great idea, but I would like to hear the other side before committing.