This morning, LA Streetsblog's Carter Rubin confirmed CD-11 councilmember Bill Rosendahl's announcement that Metro Rapid service is coming to Venice Boulevard. Councilmember Rosendahl, however, had said the service would run between Union Station and Centinela Avenue. Luckily, Jerard Wright of Metro's Westside/Central Sector Governance Council jumped in early on in the day to say that the line would run all the way into downtown Santa Monica, as the current limited stop 333 does.
The bad news, it bears pointing out, is that Venice won't be getting any of the goodies associated with the Metro Rapid service on Ventura and Wilshire. There simply isn't any money for upgraded bus shelters with NextBus displays.
I will get back to you on whether it will be feasible to check on arrival times via rapidbus.net, which reports on arrival times for many Rapid Lines (but not all, such as the 761), and is designed to load quickly on web-enabled cell phones.