Ok, so it was a bit extravagant and over-the-top, but it brought people together and was a proper celebration for the greatest country in the world.
Exactly. Whatever it cost, it must surely recoup either now or in the future, as people come to Britain now or in the future (and spend money). Those moaning should perhaps explain what they're doing to make British people (and others around the world) feel good and proud, as well as their contribution to the economy by not having events like this.
People talk of the cost to the economy. Surely, besides factories possibly not making things (assuming any closed), most people will make up the two days of 'lost' work in the last three days of the week anyway. And one day was a bank holiday anyway, which was merely moved. I'm certain that a lot of people who weren't glued to the TV will be out shopping, doing a bit of DIY or enjoying a meal/drink out - so that's a boost to economy is it not?
In fact, given how good the Jubilee concert was, and how many people will be talking about it for some time, those people who thought it cool to slag it all off before are probably looking silly, and certainly now in the minority.
The same will of course happen about the Olympics (we like to moan and put ourselves down here), but I also think that this will be another way of allowing British people to be proud and show us our nation in the best light, rather than being seen as the place of rioting last August.