Widening I-65 between Vietnam Veterans and the Kentucky state line should be a higher priority. Also, adding capacity to the I-24/65 concurrency close to Nashville. As froggie mentioned, there are more needs closer to downtown. It would be nice for through traffic between I-65 north and I-24 east and I-40 west to have a bypass since there is a lot of truck traffic from I-65 going towards Memphis and Atlanta, but Briley Parkway could be used for that purpose. The western segment is underutilized at the moment, and a lot of that is probably due to the lack of signage directing through traffic to use it. Upgrading Briley south to I-24 would help a lot to remove through traffic from the downtown area, too.
If I recall, I think part of the reasoning behind shelving it was due to environmental concerns. You are crossing the Cumberland River twice, and traversing more difficult terrain. It took a long time to finish TN 840 in western Williamson County partly due to that reason.