I only ever watch the opening ceremony of the olympics, and some of the downhill stuff during the winter one which can be pretty exciting stuff. Frankly most, if not all of the summer events are boring - who can run the fastest, who can jump the highest. I'm struggling to think of something worth watching...
... including windsurfing

:
My eyes!!! My eyes!!!
Seriously I've never seen so much dry humping. They need to, somehow, enforce a wind limit. Perhaps hold all the sailing events elsewhere?
Imagine sitting at the pub "Hey you guys mind if I turn the footy off for a bit? The olympic windsurfing is on. Ah good, they're just about to start". This could be followed by some very live boxing and/or sprinting events.