Although there will be coverage via Facebook and Twitter, I don't see a few cam pictures and text as the best way to experience the games, especially because many events only take a few minutes anyway so the advantages of "condensing" information down to a few snips make less sense than for, say, a speech where you may just want to glean a few tidbits.
Here is the NBC Coverage (NBC is likely to have the best and most Olympics content): NBCOlympics.com
ESPN Sports: espn.go.com/olympics/
Here is the official website of the Olympics: Olympic.org
CBS Sports: http://www.cbssports.com/olympics