Seems like there are only two cities that have a chance of winning the 2012 bid, London and Paris. Although I live in London and think it would be great to host the games, I'm hoping that Paris get it. The French will make a big spectacle of it for the world to see, they'll be proud of it and hype it up to the heavens. Plus it'll be stylish and very suave, just the thing you'd want to watch.
If London got it then the venues and infrastructure would only be completed at the last minute and will be vastly overbudget. Some of the areas they will be building are, frankly, nutsholes and I'm sure the government will use a successful bid in order to steamroller another load of white elephants onto us whilst pretending they'll be an engine for regeneration in those run down areas. Yeah right, and the Millenium Dome isn't just a big tent that hasn't been used in five years and is costing us millions just to keep standing empty!