Wikipedia has a good overview of PRT (Through tends to minimize the problems with a PRT System):
http://en.wikipedia.org/wiki/Personal_rapid_transitSome quotes from the Wikipedia piece:
As it stands, PRT remains a potential rather than a proven reality. A city-wide deployment with many lines and closely-spaced stations, as envisioned by proponents, has yet to be constructed. Past projects have failed because of financing, cost overruns, regulatory conflicts, political issues, misapplied technology, and flaws in design, engineering or review.
Vukan R. Vuchic, Professor of Transportation Engineering at the University of Pennsylvania and a proponent of traditional forms of transit, has stated his belief that the combination of small vehicles and expensive guideway makes it highly impractical in both cities (not enough capacity) and suburbs (guideway too expensive). According to Vuchic: "...the PRT concept combines two mutually incompatible elements of these two systems: very small vehicles with complicated guideways and stations. Thus, in central cities, where heavy travel volumes could justify investment in guideways, vehicles would be far too small to meet the demand. In suburbs, where small vehicles would be ideal, the extensive infrastructure would be economically unfeasible and environmentally unacceptable.Thus the problem with PRT is that it is an attempt to use car size transit vehicles on its own separate right of way. Unless you can use such a system on the public street (and work around the issue of bicyclist and pedestrians using those same streets) the cost to build such a system will exceed the numbers of users (i.e. those who can not use a car on those same streets). The alternatives, Light Rail Vehicles (which can operate on streets and their own right of way), buses, and even heavy rail (On their own right of way) all have substantial savings in construction (i.e. no private right of way) OR can move masses of people quickly between several points (Heavy rail and Light Rail on its own right of way).
Do to the need for each car in a PRT system to be able to bypass stops, it can in theory go faster then mass transit, but that theory dies a quick death if the only Right of Way is blocked by other cars stopping at those stops and the car you are on NOT being able to go forward till that car empties and/or fills will passengers.
The Wikeipedia mentions Morgan town PRT System, but Morgan town is less a PRT system then a rubber tired electrically operated transit system (Which can be done with Light Rail IF it has its own exclusive right of way).
PRT sounds good for a person who wants the privacy of a car but not the obligation of a car once they arrived where they want to go. For anyone who has taken Mass Transit on a regular basis, it is to expensive a replacement for buses with minimal improvement in travel time. Most of the improvement in travel time, in most proposed PRT Systems, had less to do with the PRT system itself but more to do with any mass transit system built independent of public roads (Auto Traffic slows down mass transit more then the stops to pick up and leave off passengers).
Sorry, PRT is one of those dream systems that will NEVER live up to its dream even if built, and the cost of building the infrastructure for such a system would be better off spent on a Light Rail system on its own right of way and maybe even operated by remote control instead of by a driver.
Now, I have to admit I may be prejudice against the PRT concept. Sounds like the Skybus proposal in Allegheny County (County Seat: Pittsburgh PA) in the 1960s. It was a slightly larger vehicle then most PRT proposals but ran on an elevated concrete guideway and operated without a driver. A demonstration unit was built in the Allegheny County Park of South Park in the 1960s and ran every county Fair from the late 1960s till the year the Fair closed in 1972. Smooth ride, no operator, the demo had only two stops. If you go to almost any airport today you see its successor in any of the various people movers used in Airports.
The problem was it was being offered to the Citizens of Allegheny County as a replacement for the last two Streetcar Lines in the County. The Port Authority of Allegheny County (Which provides Mass Transit for Allegheny County and the City of Pittsburgh from 1964 to today) had adopted a policy of replacing all of its Streetcars with Buses. The problem was the last two lines if buses replaced Streetcars you were looking at a double in the time of transportation. The reason for this was these two lines used a Tunnel to get to Downtown Pittsburgh and after entering the tunnel under Mt Washington as the Streetcar left downtown Pittsburgh, it then went on its own right of ways. One exclusively on its own Right of Way to Library and Drake terminals of the Streetcar Line. The other a short right of way, then on Broadway Avenue through the Pittsburgh Neighborhood of Beechview, then on its own right of way through The Borough of Dormont, then on US 19 till its termination at what was called the Clearview loop in the Business district of MT Lebanon Township (There was a connection line between the Clearview loop and the other Streetcar line, but only used rarely in the 1960s).
During Rush Hour, you could NOT beat either streetcar to town (A Local Paper did run a car against the Streetcar and the car did beat the Streetcar to downtown Pittsburgh by about two minutes, that is before the car had to look for a parking place AND then walk back to downtown Pittsburgh, the person on the Streetcar was already where that person had to be).
Worse, to road the Library and Drake Streetcar ran along was a two lane (one lane in each direction) road, which could NOT be expanded without spending billions (it still has NOT been expanded to four lanes). To expand that road (PA 88) would not only require buying houses on both sides of the road, but spending money to secure the road from sinking, the road and the area by the road has all been undermined over the last 150 years.
Any conversion to buses would double travel time and worse, cause people to use their cars to get to downtown Pittsburgh, further backing up traffic on PA 88 and the road it ran into before getting to Downtown Pittsburgh, PA 51. Thus it was clear you could NOT replace the above streetcars with buses. Westinghouse offered Skybus as a replacement. It was to be elevated, operated by remote control etc just like a PRT system. The problem was HOW this was going to be done. Beechview was to have two stops instead of its Seven Stops (And one of the stops was to be a mile from the present Streetcar system so to get traffic from PA 51). Buses were to connect these two buses for those people who could NOT walk to those two stations. Dormont would have a Station, Mt Lebanon would have A Station. Castle Shannon (On the Drake and Library line) would have a Station. What is called Washington Junction would have a Station and the last Station would be opposite South Hills Village Mall (The first inside Mall in the Pittsburgh Area). The Library line would be converted to a bus line to haul people its entire length to the Washington Junction Stop.
As you can see the people of Beechview and Bethel Park (The township the Library line went through) revolted at the above (Mt Lebanon and South Hills Village Area supported Skybus). The fight ran from the mid 1960s when Skybus was proposed, to the mid 1970s when the Federal Government stepped in and force the Port Authority to actual do a study on the best way to handle transit in the above transit corridors.
No Study had ever been done, Skybus had taken off on its own by a board of directors that saw its duty as ending Streetcar operations no matter the cost. The Study was extensive and concluded that the system that would provide the most transit for the least cost would be an updated Streetcar System (This was the first time I heard the term "Light Rail System"). People who reviewed the study in detailed notice that there was nothing new in the study, had one been done in 1964 it would have come out the same way. Unless you are willing to provide 100% separation of transit, Light Rail is your best offer in any high density location (Can go on its own right of way at choke points, including using tunnels for LRVs are electric driven and thus less concern about fumes from the motors of the LRV compared to a bus). In low area of population density buses do the best job (No right of way to maintain and traffic is light).
I bring up Skybus for it may be prejudicing me, but I think it is also a classic example of what is wrong with the PRT concept. To make a PRT system work it must be extensive. Had Skybus been able to go to Library and Drake AND keep the number of stops the Streetcars had, the opposition to Skybus would have been minimal. The problem is to make the PRT extensive on its own right of way increases the cost of providing the PRT. Sooner or later you have to draw a line on costs. In Skybus an attempt was made to contain costs but left an unsatisfactory product. The people who would be using it said it was worse then the system it was replacing (By 1970 was using 20 year old streetcars, on bridges 65 to 110 years old, it needed replaced but was doing a better job of providing service then what Skybus was offering in service).
My point is PRT is like Skybus, much promise, but to provide that promise means spending more money then any other alternative would cost. i.e. the alternatives (including doing nothing) all all more cost effective. That is what is dooming PRT and will continue to doom PRT.