NBC will stream every second of the Olympics for the first time starting with the 2012 London Games. Before you get giddy, it's not quite what it appears when you glance over it at first. A partnership with YouTube is nebulous for the moment, since NBC has their own streaming site and likely doesn't want to steer people away from lucrative pageviews. It is also unclear exactly what events go where, or how NBC will package the sponsorship.
These are details, however, and ones overlooking the central point here: this is something you will be able watch live at work, and most likely with Twitter or Facebook bird-dogging you to whatever's most compelling at the moment. If March Madness' lingering impact on the rest of sport is anything, it is this: people love to watch streaming sports not because their computers look better than a flat-screen, but because they are at work, and would like to watch sports while they pretend to file a report.
The good news continues, though. Tape delay is dead, and instead of waiting all day to watch footage of things that you can spoil via the internet, you can enjoy the Olympics just the way you enjoy every other major sporting event: from the comfort of the 21st century.