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The Dublin Holyhead route (100km) is the one that makes the most sense, but even that would require major rail infrastructure upgrades on both the Welsh and Irish sides - gauge standardisation, electrification, and capacity increases.
In addition, the Irish transport infrastructure is very road and air based, with a very underdeveloped rail sector.
The sea is relatively shallow, so I don't know if there would be major geological risk factors or cost factors that might come into play.
The government is now very capital investment averse and the public/private partnerships used to build some motorways have gone out of fashion - so private capital is unlikely to be forthcoming.
All in all, probably 0% chance of this progressing much over the next 10 years - unless oil prices go up so much as to make other modes of transport much more expensive. Index of Frank's Diaries
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