I think Kuala Lumpur should have a strong bid for the 2008 summer games. They staged a superb Commonwealth Games last year and they have the skilled people to handle the organizations of such big event like the Olympic Games. Facilities wise, no doubt it's one of the best you've ever seen.
What better place to stage the Summer Games than the place where it's Summer all year long! And of course, with 100% government support, like the Commonwealth Games, the Summer Games 2008 would not be as commercialized as the Atlanta '96.
Remember that KL is also bidding for the 2006 Asian Games. It is likely that KL would get it without much of a problem. And also note that Seoul was the host for the 1986 Asian Games AND the 1988 Olympics!
1986 & 1988 - Seoul, Korea
2006 & 2008 - Kuala Lumpur, Malaysia
Wouldn't that be nice?