Roman here, living in the area near Colosseum: the road still exists but has been pedonalized by Marino and it made the archeological park completely different.

Now people can safely walk around, the only allowed vehicles are public buses and archeological excavation have become a prominent activity in the area.

it's still messy because the new subway tunnels are taking a lot longer to be built than planned (that's quite normal in Rome unfortunately) but it's many times better than it was before when the main users where cars and traffic jams.