Yeah, this track doubling will surely be beneficial for Mysore and also for Bangalore. This project will not only reduce the travel time between Bangalore and Mysore, but also the government has said that it will also add new trains to Mysore. The government has said that 2-3 new trains will be introduced after the track doubling. I don't think it will be done by 2014, but in 2015 I think it will be completed. The main problem for the delay is because of moving some old armoury near Srirangapatna.
Oh, are you serious? The track doubling will of course help. Now, express trains take around three hours to travel from Bangalore to Mysore. But once track doubling is done it'll take around two hours to travel between the two cities. It will surely be beneficial for many people who travel from Mysore to Bangalore daily for work. It will also reduce the rail traffic in the region. Now many trains have to wait for signals and waste time. The railway officials first said that the track doubling will be completed by end of 2014, but now it looks like it can be completed only in 2015.