Sounds nice, but on to the sour grapes:
As a Seattlite (thank you, Yahoo! Answers) who doesn't drive at all, I can't help but be a little peeved. Where's the cash for the folks who've made the decision not to drive from the start? Sure, there's a quarterly drawing for an iPod, but I'd rather pocket $150 than get a raffle ticket.
For that matter, car owners are likely better off than non-car owners to begin with and already have financial incentives to cut back their driving -- $135/barrel oil, for starters.
Its not perfectly clear where the funding for Seattle CAN comes from, but it sure seems like non-drivers subsidizing drivers -- whether it's higher prices at participating businesses or higher taxes.