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So we have a choice of someone who seems to have no grasp on reallity and someone who seems to have no grasp on reallity
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Boris and the UKIP candidate, presumably. Boris is a lovely fellow and all that, partly because when he screws up, he owns up like a gentleman, but he has plenty of practice, and I'm not sure a man with no experience of actually running anything more complicated than a conservative magazine (he's always been in opposition as a politician) is necessarily better than the man who's spent his life in London politics. The Tories are clearly having trouble finding a London man suitable for the job - personally I think David Davis would be a fine candidate for them, but as one of the few non-Etonians in the Cabinet his talents are needed there.
Ken may be many things, but a man divorced from reality wouldn't have got the congestion charge working, improved the bus network so much and told the greedy private contractors Gordon Brown foisted on the tube to get stuffed when they came round with the begging bowl. He's also, of course, anti-Iraq War, which makes him the mainstream candidate these days.
Incidentally, London bus fares are going down 10% this year, to 90p a journey.