On a lighter note:  The 2012 London Olympics start almost exactly 6 years from now, so here's a Visitor's Guide:

Getting Around: a folding bicycle would be good given that public transport is even now terrible and may be even more unreliable then.  If you're not too fit, an electrically-assisted bike may be worth considering - or, eh, maybe not;

Accommodation: best within walking (or cycling) distance of the venue for your favourite sport;

Items to Bring: Clothing - with the British weather an umbrella is always a good idea, but with global warming it may by then be 40C in July/August, or 10C if the Gulf Stream packs up, so a wide selection is the best option; a torch, just in case the lights in your hotel go out, often, and for a long time;  good shoes/trainers, for all the walking; extra cash (best currency is anyone's guess, maybe roubles) in case your return transport is delayed (ever tried travelling by cargo ship?); plenty of non-perishable food, such as apples, nuts, Mars bars, etc.; finally, a good pair of binoculars, preferably of the night-vision variety for unlit-floodlit events.

On a serious note, the 2012 Olympics might be the last in the present over-hyped, over-blown form.  A silver lining ...