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This has been long overdue. Almost every single main line or commuter route train I've been on in the UK was full or overcrowded. Unfortunately the government just left the market to it after the privatisation. However, that completely failed to produce any improvements to the rail network, in fact it fell into disrepair and the infrastructure has been partially returned to state ownership.
I would love to get regional HSR in the states. Don't know if it's economically feasible (yet).
The success of low-cost point to point air carriers and air shuttles has already shown that there's a market for regional HSR.
California might build one. (hopefully). It will have both interurban, and intraurban travel. Eg. Sf. to palo alto becomes a 15mins, that will be much faster than a car. While SF to LA is promised to be around 2:30. Much faster than the current 6-7 hour it takes by car. Plus you could read, sleep, or maybe be in the internet in the train, making the jurney even more pleasant.

http://www.cahighspeedrail.ca.gov/

It will be in the ballot on Nov. 2008 for a bond. Since California is in a huge deficit right now; there has been oposition to this. But with gas prices only rising by November hopefully people will see that HSR is a very viable way of transportation.

I have been to the Accela express in the east coast (Boston to NYC), and while they use older TGV models, their speed is maxed at 120mph, with average speed being about 75-80mph, due to urban restrictions on the route. Unfortunately it is not much faster than taking a bus. If that train was going at 200+mph, it would have been hugely popular.

Addition: With the pain that flying has become, from control checkpoints, lines, to now getting charged for even the first baggage, HSR travel becomes even more attractive. Plus travel with train in California will be very scenic. Virtual tour of how it would look: http://www.cahighspeedrail.ca.gov/map.htm