Leh route maynot come at all, if relation of India with China/Pak improves in the coming years. Even if it comes, based on the experience of Jammu-Baramula project, we can assume that it will take atleast 2 decades to construct.
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Half a century is too long a period to guess any thing. The way air travel is getting more and more cheaper and popular (growing @ 23% per annum), it is expected to be a large number of flights from Leh and that too within the reach of Middle class Indians....
more... The costly rail may not come at all just due to fact that traffic is too low to justify construction of a rail line.