London is just great: one of the best cities in the English-speaking world. I've just returned from my fifth and best-ever visit. However, it's expensive and likely to get more so, with imminent rises in the cost of travelling on the Tube (underground railway system) and the approach of the Olympics. Nevertheless there are plenty of attractions that cost nothing or next-to-nothing. The main museums and art galleries are often free. A walk through lovely Hyde Park or Green Park is free, as is a stroll along the Thames Embankment.
Accommodation can be costly but B&Bs are usually good and we found a lovely central one at Stafford Terrace near Kensington High Street, via a group called 'At Home in London'.
If you're vegetarian or even vegan, London is heaven. Dining options are everywhere; even in traditional pubs you'll find veg*n food. I believe that this is due largely to the influence of Linda and Paul McCartney (particularly Linda, may she rest in peace).
So, go and enjoy - and count the cost later! You can't take it with you!

I put together some traveling tips for anyone's upcoming first time visit to London based upon my initiation to first time London and the British Pound. Hope you enjoy reading and find it helpful:

Number 1 Travelers tip: Save lots o' money before you land at Heathrow Airport, cause merry ol' England will bankrupt you fast enough to make your head spin! Aside from that, it's a wonderful place to travel to. Where I found the best bargains in Great Britain were on the web, because you can get affordable "American" type prices before you arrive and have to deal with the oppressive exchange rate. And when I say oppressive, I'm not exaggerating. I found my hotel online, and got a great rate right next to Hyde Park, bought theater tickets online, and saved a bundle, and wished I had done more online, as it would have made England much less financially painful.

Number 2 Travelers tip: Take the Tube. It will get you where you want to go in London, cheaply, and in an efficient manner. If you've never taken public transportation before, this would be the place to start. Clean, efficient, easy to navigate with the maps in the Tube, and lotsa trains running often. Multi day passes are available to save you further expense, and it can even take you to and from the airport. Taxis in London aren't cheap, and renting a car and driving on the "other" side in London's horrific traffic could be considered a thrill sport.

Number 3 Travelers tip: Eat out at local places and stay away from hotel dining. You'll find your dinner bills will be about half, making them merely overpriced instead of outrageous. Completely forget about ordering a martini, cause you'll have to take out a second mortgage. Most of the guide books will tell you to stick to the pubs for frugal dining, but I found the pubs to be pretty outrageous as well, and not very good. In fact, lousy would be a better term. If your just gonna drink beer, have at em', and skip the food. The best bargain was eating out in the local ethnic restaurants, such as in Chinatown, or at the public markets such as in Covent Garden. The Indian food was quite good as well. Stay away from the Scottish Steak House chain of restaurants. Absolutely, positively, awful!

Number 4 Travelers tip: Go the the theatre while your in London! Broadway shows, major stars, great theatres. Buy online before you go, and you can get great seats, and save money. Another route is the half price tickets booth on Piccadilly Circus, where you can buy very discounted tickets for the matinee or evening performance for that day. Some think it's the best deal in London, and if it goes your way it is, but your still flying by the seat of your pants if there is something you really have your heart set on seeing.

Number 5 Travelers tip: Skip Harrod's Department Store. If you have ever been to Chicago, you've been in a big department store. It's not that different other than being able to gasp about the sofa you just sat on, and that with the USD conversion works out to about $12,000.00.

Number 6 Travelers tip: Don't be surprised if you can't understand whomever you are talking to, despite you speak the same language after a ten minute conversation. We speak American, they speak English. You'll understand should you go there. The Brits have a saying about their yank cousins, " we're divided by a common language". They are however a very nice people on the whole, even if you can't figure out what they are trying to tell you. Need directions? Buy a map and tough it out.

Number 7 Travelers tip: Go see the sights and the museums. London has incredible sights to offer, and more history than you can fathom. Just walking through the neighborhoods of West London is a fascinating journey. Buckingham Palace, Parliament and Big Ben, Piccadilly Circus, Covent Garden, the London Eye, Trafalgar Square, Number 10 Downing Street, Westminster Abbey, and many, many more sights are all within walking distance of each other, (or a short ride on the Piccadilly line on the Tube), in West London.

Number 8 Travelers tip: Go see Hyde Park. It's right smack in the middle of London, and has paths, monolithic archways, statues, lakes, restaurants, a conservatory, and is a great place for meeting and chatting with the locals, or just people watching. This former royal private hunting ground of Henry the Eighth, is now for everyone, and best of all, this little slice of British history is free.

Number 9 Travelers tip: Don't miss Buckingham Palace. The show is free, and the Queen has a very nice house.

While the USD to Pound Sterling exchange rate is somewhat daunting, a trip to London is a marvelous adventure. World class museums, plenty of things to point your lens at, and a great place to visit await you. Just travel smart.

I had an amazing 4 days in London! My sister and I went on our first European trip and visited London first. It was the best four days of my life. We visited Parliament, Westminister Abbey, Big Ben, the Tower of London, and shopped for hours at the Piccadilly circus. My first love in London though is St.Paul's Cathedral. The architecture at this site is truly magnificent. The gilded ceilings and amazing history touched my heart. This is the site that Princess Diane married. It was such a positive experience, I can't wait to go back!

Traveled to London in August 2009 and had a fantastic time. Everyone we met was very friendly and helpful when we needed something. There are many reasonable places to eat and attractions.