If you still got game and choose to put politics aside, it's not too late to get a decent deal to Beijing in time for the Olympics. By far the best fare we're finding these days is on China Southern Airlines from Los Angeles for $976 round-trip including taxes. It does involve a lengthy layover in Guangzhou, but the sizable savings should make it worth it, and even if you add the cost of a connecting flight to LAX from your hometown, you're still likely to come out far ahead.
Needless to say, this fare is only available for relatively few days of travel and a bit tricky to find, but we've pinned down at least 5 different itineraries for July and August travel. If all else fails, the same airline offers widely available non-stop flights to Guangzhou starting at $938 for peak summer travel. How you make your way from there is up to the adventurer in you.