HS2 go-ahead?

Reports today that the government is set to approve HS2 next week.

http://www.bbc.co.uk/news/uk-16453869
http://www.telegraph.co.uk/news/uknews/road-and-rail-transport/8999154/High-speed-rail-line-is-given-the-green-light.html

The proposed route (includes detailed maps):
http://www.bbc.co.uk/news/uk-england-12514475

My concern is that a vast amount will be expended on the project to the detriment of incremental improvements and additions to the existing rail network.  One example of current problems:

http://www.guardian.co.uk/money/2011/dec/30/worst-train-reading-london-paddington

At the Birmingham end of HS2 the terminus will be close to Moor Street station, but some distance from New Street. 

At the London end passengers on HS2 from Birmingham will alight at Euston, so no change in terminus from the current route and when HS2 is extended to Manchester, Euston will remain the terminus for Manchester passengers.  However, passengers from Leeds and Newcastle will terminate at Euston using HS2, rather than Kings Cross which is the current terminus.

At the London end there will not be a link between HS1 (St Pancras) and HS2.

Farringdon will become an important interchange, the only one between the Underground, Thameslink and Crossrail.  One stop from St Pancras, but the only through route to the Euston area is to Euston Square.  The effect of all this will be that no improvements will be made to the link between Euston and the rest of the rail network.

See also:

http://www.telegraph.co.uk/news/uknews/road-and-rail-transport/9000166/High-speed-rail-A-250m-lesson-for-Britains-rail-enthusiasts.html

http://www.telegraph.co.uk/news/uknews/road-and-rail-transport/9000156/David-Cameron-to-face-revolt-over-high-speed-rail-green-light.html