Well. What can I say. If you are a fan of Hyper Olympics/Sports in the arcade (and emulated superbly in MAME) then you should love this.
The events that are available for this are shown in the following picture.
There are two modes of play to this, one of which is the main Olympics, and the other is training. In the olympics, events are broken down into days and after so many events, if you qualified them all, you would get 2 bonus events, which are Hangliding and Mobster Shooting. Qualifying the events is no easy task, as you will find out. The training mode is fairly simple, but the same events in the Olympics are twice as hard to do and will have you breaking your joypad in frustration :)