http://uk.news.yahoo.com/second-round-2012-ticket-sales-134928304.html (They couldn't organise a cock-up in a brothel!)
The only farcical bit was the "have your money in the bank for a month from xxx and we'll just take what we want without telling you what you've been given". Beyond that it's exactly how we allocated tickets for the PL away games, and the only complaint then was that there was no points system to reward loyalty, and there's no loyalty to be had for the Olympics. When it comes to the 2nd Round priority is being given to those who didn't get any this time round which is the fairest thing they can do.
Masses of tickets for best events gone to 'fat cats' (= dignitaries); roads closed to enable the limos of 'the great and the good' to get to events; many structures pulled down after end of The Games; and 'The Legacy'? A Pile of Plop.
