Before I even got to the part about bike friendly Palo Alto, (Like well utilized Bryant St Bike Blvd) I already thought that California Ave is a perfect candidate for a bike blvd, with through traffic diverted to El Camino and Central Expressway. Also it is a near perfect link to Palo Alto's bike blvd, for anyone biking from one to the other, or beyond. I used to live in Redwood City, and biked regularly to Mountain View, often along California Ave, through Downtown.

Probably nothing substantial will happen;
I'm sure the MV car advocates and the city planners will explain clearly why this is a bad idea, and/or why it can't be done because of some state transportation standard, or emergency access issue, or public resistance (often the city's easy way out.)

Here is another chance for City of MV to step up and make the tough decisions it has skirted in the past.