I think it'll be suitably embarrassingly British.
Expecting the opening to be very quirky/naff. I don't mind that.
ConfusingJazz was right on the money then?
My theory on who is going to light the cauldron:
It won't be. As the flame enters the stadium, it will be very joyous like it usually is, everyone cheering and all. But then a weird hush comes over the stadium, something doesn't seem right. The stairs to the cauldron are lined with men in cloaks, chanting in a dead, thought to be forgotten language. The torch bearer marches up the steps to a mysterious figure, who turns out to be the queen. She cackles as she calls forth the sacrifice, Kate Middleton. She says something about the necessity of the spilling of the blood, and stabs Kate with a sabre. The queen takes the torch from the bearer, and screams "I light this Altar of Britannia! As the flame grows, so shall be the reborn Empire! ALL HAIL BRITANNIA!" She sets ablaze a stack of wood that Kate has been placed on, and breathes in the fumes. She starts to float with electricity crackling from her fingertips, laughing maniacally as she starts to claim the countries of the earth.
But that's only because I don't know who else they would pick.