I was going to put this in a fanshot, but nobody reads those, and this is just too important to risk everyone not seeing it. I just found that out today.
In fact, you can watch pretty much any Olympic event you want live or in its entirety after its conclusion. I watched about 10 minutes of rousing Egypt-Netherlands (I think) team handball out of sheer stupefaction that it was available. Then I came to my senses and watched some beach volleyball highlights. Yup, I'm a shoo-in for employee of the month.
The first time I tried to watch it, it asked me for my zip code and cable provider; it said something like "NBC has a special deal with certain providers." I tried a couple of different ones before I got one it liked. If you get that question and your own address or provider doesn't work for you, try putting in 78704 and Time Warner Cable.