I thought this was really cool. Especially since I've been staying up to watch the Olympics and have to eventually fall asleep every night (did you notice that? I actually fall asleep every night). It's nice to know that I can get video of the events online.
I love that you can search by sports and get alerts. Rock on, MSN (oh yeah, and NBC, I'm starting to forgive you for that GW interview). From what I understand, the scale of this project is significant. They are offering thousands of hours of content (say what?) including live coverage of events (in case you are stuck at work when something important is happening). Not that I would EVER watch TV online at work. Never!
Of course, Silverlight is the technology behind all of this. Oh, excuse me if I geek out over some MSN stuff. It's the Olympics, people.