How to stream the London 2012 Olympics
There have been several HOWTOs posted regarding streaming the 2012 Olympics using HTTP / SOCKS proxies via SSH and other similar methods. None of these actually work using the latest Flash on Mountain Lion (with Firefox, Chrome or Safari). Additionally, the third-party streaming sites don't provide BBC's amazing interface, which lets you quickly skip to individual competitors and events. However, setting up an OpenVPN server does work, with some tweaks. You'll get the exact same UX that people in England receive.
Get a Linode VM in the UK. The 512MB server for $20 works just fine. (If you want to use my referral link, go for it: http://bit.ly/OuzdVe)
Follow the standard OpenVPN installation documentation. (Basically, 'apt-get install openvpn' or 'yum install openvpn' and then follow these docs: http://openvpn.net/index.php/open-source/documentation/howto.html). For an OS X client, I prefer Viscosity: http://www.thesparklabs