On the contrary, an Olympic gold medal is really worth something only when a player as good as Nadal wins it.
Here is a list of the men's singles winners at the Olympics:
1896 John Boland (IRL)
1900 Laurie Doherty (GBR)
1904 Beals Wright (USA)
1906 Max Décugis (FRA) [exhibition event only]
1908 [Outdoor event] Major Ritchie (GBR)
1908 [Indoor event] Arthur W. Gore (GBR)
1912 [Outdoor event] Charles Winslow (RSA)
1912 [Indoor event] André Gobert (FRA)
1916 No Olympic Games (First World War)
1920 Louis Raymond (RSA)
1924 Vincent Richards (USA)
1928-1980 No tennis events at the Olympic Games
1984 Stefan Edberg (SWE) [demonstration event only]
1988 Miroslav Mecir (represented Czechoslovakia, but a Slovak)
1992 Marc Rosset (SUI)
1996 Andre Agassi (USA)
2000 Yevgeny Kafelnikov (RUS)
2004 Nicolas Massu (CHI)
2008 Rafael Nadal (ESP)
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The above list includes three great players - Laurie Doherty, Stefan Edberg and Andre Agassi and two other very good ones (Arthur W. Gore and Yevgeny Kafelnikov) plus Nadal, who is still active.
This list is not really comparable to a list of the winners of the US Championships, first held in 1881, and now the US Open. This list can be viewed here:
http://en.wikipedia.org/wiki/List_of_US_Open_Men's_Singles_champions
It includes names such as Tilden, Lacoste, Cochet, Vines, Perry, Budge, Kramer, Gonzales, Sedgman, Rosewall, Laver, Emerson, Connors, McEnroe, Lendl, Wilander and Federer. Rafael Nadal has yet to appear on it either as runner-up or winner.
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