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Lightrail is smaller, lighter and cheaper than normal rail. It can also turn sharper corners and handle steeper gradients. It cannot carry as many people nor move heavy freight.
Other benefits:
An inner city, high frequency, high profile bus service with dedicated lanes and green light priority. Buses can have the advantages 1 to 3 and if a little imagination is used 4 maybe possible. One idea is to paint the buses on a particular route a particular colour and define that route on the road with two lines (representing the rail lines to come!) in the same colour painted on the road (either side of the oil stained middle of the lane). Compared to lightrail, buses cannot compete in items 5, 6, 7 and 8. These advantages are sacrificed for the single advantage buses offer over rail, lower initial cost. While bus routes can be easily changed, this can also be a major disadvantage, too. This idea has the additional benefit of promoting the idea of motorists giving up road space to alternative forms of transport, rather than using even more land for transport.
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