I have no hesitation in renewing. I think it’s common knowledge that I’m a huge fan of the scheme.
I really feel for those who attempt to use the bikes from mainline train stations during rush hour, but fortunately I’m a freelance web designer living in zone 2 and working around zone 1, so I generally don’t have any problems with availability of bikes or docks.
So far as bad bikes go, maybe I’m just lucky, but I can’t ever recall coming across anything significant problems. Sure the bells are rubbish (partly due to the up/down debate) but it doesn’t bother me because I normally just speak to people instead trying to ring the bell at them.
@jt, you might find you need to tighten (or sometimes loosen) the seat using this technique : http://www.borisbikes.co.uk/topic.php?id=17#post-188
RE: accidents, touch wood, after a year of cycling I haven’t had a single near miss. I guess I’m not cycling that fast, I don’t squeeze through traffic or jump red lights, I’m cautious crossing intersections, I never pull up to the left of lorries, and I always leave at least a metre between me an the curb/parked cars. All that plus some luck probably helps.