....and to top it all we'll get
Sir Chris Hoy and
Dame Rebecca Adlington etc etc...........bleedin' 'ell!...commoner

Sir Chris Hoy will be justified, for his Olympic success over two games, and the overall success of his career in cycling, and the progression of the sport.
Becky Adlington may, IMO, just receive an MBE/OBE for now, until her career has progressed a little. OK, Kelly Holmes was made a Dame after Athens for her double gold, but that was also reflecting her career as a top class athlete, which at Athens was very much in its twilight.
Mind you, any way you look at it, Sir Chris or Dame Becky are 5 million times preferable to Sir David Beckham (a fairly talented footballer who shone in the most dominant team in England in the 90s, was nothing more than a reasonable England captain, then went money hunting abroad), which I have a horrble feeling will one day happen for some unknown reason.