NOT that is segregated from through traffic (as opposed to Bryant St, in Palo Alto, on which car through-traffic is blocked every couple of blocks.
Best route I found parallel to El Camino was Church/Latham to the Palo Alto border, then a slight jog over to the pedestrian/bike bridge behind the shopping center (was Tower Records for years, forgot what it is now). Then, work your way to Bryant.
Right now there's often an unpleasant choice when traveling by bicycle: take stressful main streets or spend 50% more time navigating complicated winding side streets. Making the main streets less stressful and making the side streets more direct should make both choices better.
It'll probably take many years but the local governments are really starting to think about it a lot and there's even some funding appearing.
Check out the line of red dots in this accident map:
http://www.mv-voice.com/news/2012/09/13/over-200-bike-relate...
Considering that cyclists are expressly encouraged to use other roads, this thoroughfare is MUCH more dangerous to a cyclist than most of the rest of the city.