The flyover ramp that was built a few years ago from eastbound US 60 to northbound KY 4 (New Circle Road) helps with the flow of traffic from the BG to I-64, and the improvements that are being made at the KY 4/KY 922 (Newtown Pike) interchange to renovate that antiquated cloverleaf should help as well, but there are a bunch of traffic lights along KY 922, and a short merge area onto southbound 75/eastbound 64 (but I understand that some work is planned to alleviate that). You actually encounter fewer signals by taking KY 4 to US 27/68, but again, there's a short merge area onto the interstate plus a shorter acceleration area due to the folded diamond design of the interchange.
Plus, when Keeneland is in session for spring and fall meets, traffic is a nightmare around the airport on US 60. I've taken to avoiding Keeneland traffic and afternoon Lexington rush hour when necessary by using US 127 from Lawrenceburg up to Frankfort.
The state really messed up by not pursuing the extension on to I-64 somewhere in Scott County back in the 1960s, and now that land has become prohibitively expensive and the NIMBYs are entrenched (especially in Woodford County) so an extension will never happen.
Someone upthread mentioned a southern bypass. The state has proposed building a link from US 27 near Nicholasville, with a new Kentucky River crossing, to connect with I-75 near Exit 95 in Madison County. The NIMBYs are opposed to this as well. The typical arguments about "sprawl" come up. Those fears could be allayed with local zoning and strict access control on the new route.