I think it's pretty good...
If i'm in the area when i'm 23/24, i'm definatly going to go.
If we can pull it off well, the world's perception of our ability to handle big events (possibly THE biggest?) will greatly improve.
Which, in the long run, is good.
The public transport will be greatly improved for the surrounding area, as will the sports facilities.
It's being held in a relitively deprived area of London, so they're spending the money on an area that needs it.
I'm sure it could be held in Manchester or Cardiff, but there wouldn't be as many foreign visiters because of the prestige London holds.
Overall, it's good that we have it, as long as we can pull it off well.
I'm also glad we beat the Frogs :-