See for yourself:
Before:
 
After:
 

You need CLEO installed - http://cleo.sannybuilder.com/
Script supports gta3.exe 1.0 and 1.1, as well as gta_vc.exe 1.0 and 1.1.

v2.0 changelog:
- fixed traffic light disappearance.
v3.0 changelog:
- fixed some other coronas from stretching.