Yep. I would actually prefer to just drive on the weekends / to places without trains, hopefully out in the mountains or something. Europe even has trains which go to remote locations. Having to park a car is terrible in cities. Combine this with the social acceptance of alcohol consumption plus the danger (and laws) of driving intoxicated and public transit is fantastic. Public trans like trains also avoid traffic, so they can be significantly faster than driving. Pollution-wise, it's also no contest. Hong Kong has a great subway system and because of it, most people there don't need personal vehicles. Taxis are also cheaper and much better service-wise than in the US. Busses service more remote routes, like to the beach (which is kinda far on HK Island).
Closer with the opening of the South Island line! I was there just a few days before opening so I didn't get a chance to ride it >.< I was very disappointed. Maybe this year!