I probably won't get to watch too much, thanks to my work schedule, but I've always loved the Olympics. I made it to Atlanta in '96 with my family, and was lucky enough to witness Michael Johnson set a new world record in the 800. That same night is when Dan O'Brien won the gold in the Decathalon.
The Olympics are great, but you really have to be there for the experience. Trust me, and go (even if you don't have tickets to any events) next time they're near you. I'll be hitchhiking if I have to to get to Salt Lake City in 2002.