While good, I think there are some critical problems with the service:
The Route - Riverside Avenue is not a good choice because it only serves the commercial area. If you're running it 5 to 7:30, then you are looking to serve residents. Move it up one block to Oak. It's the historic streetcar road, and you better serve the northern residents
The Headways - 30 minute is WAY too long (15 is pushing it). Remember, with a trolley, the idea is that it is frequent service. Plus, I don't necessarily know what time a trolley is coming by a particular stop, I jsut have to wait. As it takes less than 10 to drive downtown even from Avondale, I don't know that I'm going to wait 30 minutes for a trolley.
The Timing - 5AM? I don't believe anyone who gets to work at 5:30 AM is going to use this. First of all, there is NO ONE on the road. Second, they are getting the first parking spot in the garage - why give that up? Change it to 6:30 to 9, and you get the same work crowd, and you capture people who either want to stay late at work, hit a happy hour, or go to the gym.