There is a new layer on the osm.org site emphasizing public transportation data.
We look terrible… As if there are only railroads in IL 
Any pointers on how to add public transportation info?
Hey!
check out this post with several links to other transportation layers.
http://forum.openstreetmap.org/viewtopic.php?id=12976
Im currently adding a lot of bus route information to osm in netanya.
Funny that your post is ontime.
“We look terrible…”
=> No we don’t !!! We have all rail roads added this year.
Thats already something… Last year we didnt had anything.
Of course there a long way to go, but bus routes are less important that the streets they are driving on.
hehe. So in some places we still have to add the streets before we start to add bus routes and cut every road into 10 peaces.
You probably found already a link that explains how to add a route.
Important: we have a new way to map things this year
http://wiki.openstreetmap.org/wiki/Proposed_features/Public_Transport
so if you want to do it the right way check out this link.
Questions? ask 
The best way for me to add routes is just to stop by bus stops and write down the numbers of the busses stopping here.
Later at home there is coming one information to another and your get a good view of where a bus is driving through.
BTW:
Anybody aware of how to tag the routes of monit sherut?
Example: http://www.openstreetmap.org/?relation=1876242
Is there any map or website of monit sheruts in Israel?
I found out that srveral bus statios in Ramat gan do have a note definition that shows what routes are stoping at the bus stop.
So if you want to add some routes to the map, you can start with somebodys (I think Dimkas) work.