It looks like Philadelphia is seriously considering a public bikesharing program. The article interviews the major advocate of Bikeshare Philadelphia, Russell Meddin, who I happened to talk on the phone with after their successful 2007 public forum. He was very enthusiastic and helpful about providing advice in case we'd like to put on our own T.O. public bike sharing forum (which may just happen!)
But there doesn't seem to be consensus among officials that public bikes will work in Philly. The main thing is having a business plan and as of yet there is no program that is completely self-financed. They are all subsidized by advertizing revenue or directly by governments. But is that so wrong? Our highways are subsidized, our public transit is subsidized. Public bikes move people more cheaply than those alternatives.