It was signed by Governor Jerry Brown today. It would take a little under four hours to go from San Francisco to San Diego with a top speed of 220mph. You gotta love this, the cost is expected to be between $68B and $118B. I think it would be great as I live south of SF and my sister lives in San Diego. I would also utilize it for work in Southern California.
It certainly has caused a lot of tension throughout the state but once it is completed (if it is ever completed) it would be pretty useful for me.
Here is the route: http://www.cahighspeedrail.ca.gov/trip_planner.aspx