One thing I learned in Port Authority's presentation on the FY2012 capital budget is that they are going to rebuild Warrington Ave. Turns out PAAC owns 80% of Warrington, the city's 20% is the area nearest the curbs. This is because of the rails, as it was originally a trolley right-of-way.
As I understand it, PAAC's biggest objection to Wabash is the safety of cyclists and thus fear of lawsuits if someone got hurt. Well, if cyclists are already getting hurt on PAAC right-of-way, that does add a new wrinkle.
I really don't want to hijack this thread into a Wabash discussion -- we already have a thread for that.
Rail crossings do definitely pose a major hazard for cyclists, so the fewer of them we can have, the better, and the safer we can make the ones we can't get rid of, the better.