If Euston and the Handsacre link are built, it will be a useful 6 tracking of the southern WCML, albeit no where near as useful as it should have been. The current 9tph service can be diverted to join the new line at Handsacre and free up a lot of space for southern WCML commuter line - whilst shaving 30 minutes off the Manchester and Scotland services. Without the Handsacre link and Euston, it becomes a gleaming white elephant.
Aye. Not building Euston and Handsacre would be monumentally stupid. Also everything should be done to make sure that building North can be continued at some point. Although governments tend to go for scorched earth like TSR2 as others have said.
I still feel what is announced may be sone sort of extended delay. This looks like a blue V sign to the rail unions also.