I think as a whole, it has worked for the better. It didn't make sense to have 6 seperate mayors, 6 seperate city councils, 6 seperate school boards, etc. Just too many hands in the pie.
$1:
We have gone from 52 departments and 206 divisions, to 6 departments and 37 divisions. We have gone from six fire departments and six fire chiefs, to one. We have gone from six property tax and six water billing systems, to one each. There are many examples of this type of consolidation within the new city.
http://www.toronto.ca/toronto_history/a ... speech.htm
The only downside is that the areas of the city that generated huge taxes(ie downtown, and North York) now have to spread that money around to the "have not" parts of the city. Of course, I am all about sharing the wealth so I am for the decision, especially since many people have to travel downtown to work so it is fair to use municipal taxes generated from the area throughout the city.