I love Olympic years!
London 2012 is going to be a VERY exciting games.
Michael Phelps may not feel like he has anything to prove anymore, but 3 more medals and he is the winningest (spelling?) Olympian (medalwise) of all time. Including relays, he's already made that many events... One star to watch is Ryan Lochte. While he definitely had a very successful Olympics 4 years ago, I think its his time to shine for the American team.
Another fierce race is going to be the Men's 100M breastroke. Brendan Hansen, who came out of retirement for 1 last Olympics, has his sights set on his rival, Japanese swimmer Kosuke Kitajima (who trains in the US). Kitajima's controversial use of a dolphin kick (see video below) is a point of contention in the swimming community.
On the Women's side there seems to be a lot of new faces. From Breeja Larson and Rebecca Soni in breaststroke to Elaine Breeden and Kathleen Hersey in butterfly. Missy Franklin took the lead on the Women's 100 back which sadly uncrowns Natalie Coughlin as the top American backstroker. She was one of my favorite swimmers of the Beijing games.
As far as coverage NBC and YouTube will be streaming the games online! Click here for more -> http://gizmodo.com/5891565/youtube-and-nbc-will-livestream-the-entire-summer-2012-olympics-for-free