[kendo65]

Personally speaking I'd like to see it kept flying, not for anything to do with its historical significance or as an exemplar of British engineering or patriotism, but solely for the sheer visceral thrill of experiencing such a machine at close quarters. (I experienced this a few years back. The video posted gives a fair idea of what it is like)

It's also surprisingly maneouverable for such a large aircraft. Read an account in a magazine from a Lightning pilot who recalled himself and his wingman trying unsuccessfully for over 30 minutes to get a (simulated) kill on a well-flown Vulcan in an exercise in the 70s.

Don't think that the Vulcan, or for that matter the BOB flight or any other historical or current military aircraft should be involved with the Olympics though. [actually, scratch that - as others have said, the Red Arrows would be great]