According to a Zogby poll,
70% Believe IOC Was Wrong to Award Olympic Games to China
48% believe U.S. political officials should not attend the opening ceremony due to China's poor human rights record
Feelings are even stronger in Europe, with the EU Parliament voting in favor of restrictions on attending the opening ceremony of the Olympics in Beijing this summer due not only to China's overall human rights record but to its treatment of demonstrators in Tibet (FREE TIBET!). World leaders such as Britain's Gordon Brown and France's Sarkozy are refusing to attend the opening ceremony, and President Bush has been pressured to do so as well.
However not all are sure that a boycott would be a good thing.
71% believe any boycott of the Olympic Games in China by the U.S. would be hypocritical because the U.S. imports so many products from China and retains relatively close diplomatic ties with China that the U.S. has essentially endorsed China’s human rights record.
I'd say a total boycott of the Olympics would not be a good idea, but national leaders sitting out on the opening ceremony is a strong and righteous move, even if it is ineffective. Some say that we should not be mixing politics with sport, but China brought this upon itself with its atrocious conduct. Having visited China, I've witnessed firsthand the restrictions on fundamental liberties people face there, and the dire effects of the 'communist' government's policies. While nations should not isolate China outright, they should take a strong stand against tyranny and the mistreatment of citizens.