The point of turning one way couplets into two way streets was to slow traffic down. When I was at Marquette University, they had multiple one way streets through campus and invariably traffic was too fast. Turning them into two ways was helpful and the businesses along the street prefer it.
Sure. Traffic does slow down with two way streets, but two way streets aren't necessary to slow down traffic. It would be nice to have the efficiency of a one way network that runs slower and it can be accomplished by timing the signals for a slower speed. It is far easier to synchronize signals on one way streets.
Anyway, even if the 5th and 6th remain as two way, it still seems like the 6th/Florida roundabout is overkill. Apparently, there are regularly folks crashing into the roundabout, enough that it has led to a youtube channel and twitter feed that documents the crashes.
https://twitter.com/milwaukeecircle?lang=enGranted, the accidents are due to driver error and probably going way too fast over the bridge, but is an obstruction like a roundabout proper when it is known that drivers speed so heavily through here? If it is happening so frequently, can't we say that bad design is also at play here. This is simply the wrong location for a roundabout.
Other ideas for removing the roundabout include just making the 6th-5th-Florida into a regular intersection with a signal. Given the orientation of the streets leading to the roundabout 6th-Alexander (5th) is perfectly perpendicular to 6th-Florida. So if one is coming off the bridge, they can go straight to 5th or make a full right turn and continue on 6th. Or, the orientation for 6th can continue straight and this can become a T-intersection with just Florida with its current angle in.
Ideally, IMO, they can rebuild the rectilinear street grid with Florida ending at 6th and 5th ending at Florida. Other than parking lots, it appears that there is no building that has taken place over the entire block. It seems that this neighborhood is up and coming and straightening out the grid will leave more room for private development of the block.