I find it quite silly.
Even Dalai Lama said he is against Olympics boycott.
Western world teaching others how to deal with dissidents - now that's funny. I am not even speaking about "free Tibet" screams, while we all see Iraq and Kosovo.
I see this "boycott" efforts being more then happy-idiotic amateur attempts, it's definitely encouraged by Western regimes. Until 2008 the winning team was always USSR, I mean - if we count all medals won by exUSSR countries, now there is a chance that China will beat everyone. Boycott is a good chance to skip the competition, and, finally, kill the Olympic movement. This time consequences will be much worse then in Msk or LA.
BTW, what happened to Good Will Games? Or will Western countries organize something like Friendship Games that we had in Msk in 1984 instead of LA Olympics?