In the very unlikely event that any IOC members are reading this - please don't vote for London hosting the Olympics.
London's infrastructure barely copes with the people that have to live and work there - adding the Olympics is just going to lead to chaos. The tube isn't going to get rebuilt by 2012 - the only way to rebuild it properly is to do what the French have done in Paris and build alternative high speed lines. It recently took longer to replace an escalator than it took to construct the entire Central line with picks and shovels.
My other objection is that the Olympics will drive Britain even further along the path to a police state. The need to avoid a terrorist attack on the Olympics will give the government every excuse to add even more repressive measures (they already have detention without trial and want to bring in ID cards).
At least New Zealand is too small to credibly bid for the Olympics.