I'd say the infrastructure is definitely improving for the better, less combis, bigger buses, and the metropolitano is very quick, efficient and secure. I've also seen roads improve a lot over the years.
There are fewer streets with cratered pot-holes and in places like Callao, with speed cameras at the traffic lights, it looks like this improvement in infrastructure is going to continue. Maybe with more speed cameras, there might even be an improvement in road manners. Ojala! There are also cycle lanes appearing, some of which, like on Jose Larco, are really good and separated from the traffic by a small barrier, rather than just a painted sign on the road.
However, there is definitely more traffic, more cars, more horns, more traffic jams, which makes parts of Lima feel a lot noisier and more crowded.
There are definitely a lot more taller buildings and lots of on-going building works. In some districts, there's scarcely a street that doesn't have a new block of flats or offices going up, or just been recently finished.
If you've got plata, Lima's definitely changing for the better, more choice and better services, but it's a difficult city to be poor in. And for those that crave a house with a garden, there's a lot less choice now, as in many areas, houses are being torn down to put up small and medium-sized apartment blocks.