first i would ask you to look at these posters.
Now i'm all for supporting our very own heroes, artists, astronauts, whatever they may be as they represent our country and everything that the UK stands for etc..
but in my opinion (and that is what this is, not some jealousy or attack on the people mentioned in the link) i don't think these posters are any good at all, they may show some sort of semblance to qualities of athletes or visual references to the olympic games but they are just not visually exciting enough for the global multi-sports tournament that is shown in damn near every country in the world!
Why some of the leading, even most creative design agencies or designers and marketing firms for that matter couldn't have been given the opportunity to design some posters for the games is beyond me! it is after all their profession and in reality you see designers works everyday, everywhere and you don't even notice it, but if someone puts a frame around a crudely drawn picture people flock to it, to berate it or to bask in some kind of awe it exudes!
I think that given the fact that it would be a poster to celebrate the global tournament and would in effect show the world what england/uk was made of in terms of showing off it's creativity and sense of occasion that you would give the chance to people who know how to make these sorts of things..i mean you wouldn't ask 'dave from down the pub who did your neighbors front wall' to build the olympic stadium from scratch would you??
In the end are the posters going to be met with as much criticism as the london 2012 logo was from the public? Or will it be a different story considering these are artists and not designers?