Actually the line was built during the depression, with a lot of assistance from the gov't. Sort of what we would refer to today as a stimulus project, The bridge over the Saskatchewan River was completed in 1928, and the line arrived in Churchill in the mid 30's.
My Grandfather and two brothers worked it during construction and then in maintenance until their retirement in the 50's.
You are right as this line was built mainly with human labor, compared to the machinery that would be used today, but the real restricting factor would be that it was built with absolutely no regard to environmental or ecological issues. Today these two issues would be the governing factors.
Regards
K