Normally my mother and brother (and sometimes my sister and brother-in-law) go to the New Hampshire coast for a couple of weeks in the summer to visit with my extended family, and I join them for a long weekend. Right now, I'm pricing travel methods. Surprisingly, when you take into account that I'd have to find transportation to Syracuse, train travel would be about the same price as flying ($100 for a round-trip train from Syracuse to Boston + $110 for the van to the train station, versus $260-$280 to fly Ithaca to Boston (plus $15 for cab fare if I can't take the local bus)) but take as long as a bus (9.5 hours by train, while the Greyhound can take 9.5 hours or longer, depending on what the connection through NYC is like -- it's shorter when you're on a direct Ithaca-Boston route).
So the bus costs $80 less than the train* for the same length of trip, and the plane takes less than half the time (4 hours to fly, so I save 5.5 hours (plus drive to Syracuse, minus waiting around in the Ithaca airport)) for a $50 premium on cost.
Incidentally, when I was in high school, I took a trip to Spain with my father and stepmom, where we went from Madrid to Granada to Seville, back to Madrid. The last leg of the trip was done on high-speed rail, and took around 2 hours to cover the same distance from Ithaca (or Syracuse) to Boston. And that was back in the late 90s.
Now, it's not quite comparable -- Seville is about three times the size of Syracuse, so there's probably more demand for a direct route. (Boston itself, when including all the towns around it, is probably comparable to Madrid, at least in terms of population. And given the number of students, cheap travel is always nice.) On the other hand, there's also regular (read: on the hour) direct plane flights between Syracuse and Boston, and Syracuse is already on the Buffalo-Boston train route. (Though stopping in Rochester, Syracuse and Albany probably would slow a direct train from Buffalo to Boston.)
(Also, I realize that more/faster passenger trains and such wouldn't work in the Midwest -- big stretches of sparsely populated farmland with the occasional city/town aren't mass-transit friendly -- but that the East Coast (and the West Coast) are good areas for having trains and buses and other options beside 'car' and 'drive to airport and take a plane'.)
* But only when you take into account travel to Syracuse. If I could get into Syracuse free, the fares would be comparable, and I'd be able to get a direct bus to Boston two hours quicker than the train. Surprisingly, it costs me more to fly out of Syracuse (in this case), despite the existence of direct flights, since apparently they cost more than heading down to NYC, then taking the NYC-Boston flight. I don't even know...