Yeah, I've got family from Canada and so I'm actually a Jays and Leafs fan [ducks to avoid the shoes and full beers thrown at my head].
I frequent a lot of Jays blogs and forums in particular, and the topic of the Bills being bought by a Toronto group comes up from time to time. The vibe I get from up there, feelings about the Sabres aside, is that everyone in Southern Ontario knows how much the Bills mean to Western New York and no self-respecting football fans up there want to see the Bills uprooted and moved across the border and up the QEW. If anything, they want their own NFL expansion franchise and see the great Buffalo/Toronto rivalry extended to football as well.
Plus there's the simple logistical issue that there's currently no long-term stadium fit for an NFL team in Toronto. The SkyDome is switching to grass in a few years, at the Jays behest, and so the Argos are going to play at a University of Toronto stadium.