WRAPUP 7-Olympics-Kaleidoscopic pageant sets London Games rolling

* Queen's entrance marked with James Bond film cameo

* Three centuries of Britain unroll in kaleidoscopic pageant

* Tour de France winner rings huge bell to start event

* Incandescent Olympic rings rise into stratosphere

* First Games world records fall in archery

LONDON, July 27 (Reuters) - Britain's Queen Elizabeth

declared the London Olympics open after playing a cameo role in

a dizzying ceremony designed to highlight the grandeur and

eccentricities of the nation that invented modern sport.

Children's voices intertwining from the four corners of her

United Kingdom ushered in an exuberant historical pageant of

meadows, steel mills and megapixels before an audience of 60,000

in the Olympic Stadium and a probable billion television viewers

around the globe.

Many of them gasped at the sight of the 86-year-old queen,

marking her Diamond Jubilee this year, putting aside royal

reserve in a video where she stepped onto a helicopter with

James Bond actor Daniel Craig to be carried aloft from

Buckingham Palace.

A film clip showed doubles of her and Bond skydiving towards

the stadium and, moments later, she made her entrance in person.

"Great Britain was the cradle of modern sport,"

International Olympic Committee President Jacques Rogge told

reporters. "You invented modern sport in the second half of the

19th century."

To underline the point, Bradley Wiggins, crowned five days

earlier as Britain's first winner of the Tour de France and

hoping to add more road cycling gold in London, tolled the

world's largest tuned bell to begin the ceremony.

David Beckham, the English soccer icon who helped to

convince the IOC to grant London the Games, sped down the Thames

in a speedboat bearing the Olympic flame on the penultimate leg

of a torch relay that inspired many ordinary people around

Britain.

And in one moment of simple drama, the stadium fell silent

as five giant, incandescent Olympic rings, symbolically forged

from British steel mills, were lifted slowly out of the stadium

by weather balloons, destined for the stratosphere.

More than 10,000 athletes from 204 countries will compete in

26 sports over 17 days of competition in the only city to have

staged the modern Games three times.

Most of them were there for the traditional alphabetical

parade of the national teams, not least the athletes from Egypt,

Tunisia, Libya and Yemen competing in their first Olympics since

their peoples overthrew autocrats in Arab Spring revolutions.

Brunei and Qatar were led in by their countries' first ever

female Olympians and so, along with Saudi Arabia, ended their

status as the only countries to exclude women from their teams.

ROYAL ROLE

At a reception earlier in the day, the queen spelled out the

role played by her family after the Olympics were revived in

Athens in 1896.

"This will be the third London Olympiad. My great

grandfather opened the 1908 Games at White City. My father

opened the 1948 Games at Wembley Stadium. And, later this

evening, I will take pleasure in declaring open the 2012 London

Olympic Games at Stratford in the east of London," she said.

"Over recent months, many in these islands have watched with

growing excitement the journey of the Olympic torch around the

United Kingdom. As the torch has passed through villages and

towns, it has drawn people together as families and communities.

"To me, this spirit of togetherness is a most important part

of the Olympic ideal. And the British people can be proud of the

part they have played in keeping the spirit alive."

The opening show, costing an estimated 27 million pounds

($42 million), was inspired by William Shakespeare's play "The

Tempest", his late-life meditation on age and mortality.

Children were centre-stage throughout, starting from the

moment when live pictures of junior choirs singing in the

landscapes of England, Scotland, Wales and Northern Ireland were

beamed into the stadium's giant screens, four traditional songs

woven together into a musical tapestry of Britain.

Oscar-winning film director Danny Boyle began his sweep

through British history by grassing over the arena in a

depiction of the pastoral idyll mythologised by the romantic

poet William Blake as "England's green and pleasant land".

Idyll turned swiftly to inferno as the Industrial

Revolution's "dark Satanic mills" burst from the ground, before

those same mills forged the last of five giant rings that

interlocked and were carried aloft by balloons.

Many sequences turned the entire stadium into a vast video

screen made up of tens of thousands of "pixels" attached to the

seats. One giant message, unveiled by Tim Berners-Lee, British

inventor of the world wide web, read "This is for Everyone".

The performance included surreal and often humorous

references to British achievements, especially in social reform

and the arts, and was due to conclude with a performance by

former Beatle Paul McCartney.

Until the last few days, media coverage had been dominated

by security firm G4S's admission that it could not provide

enough guards for Olympic venues. Thousands of extra soldiers

had to be deployed at the last minute, despite the company's

multi-million-dollar contract from the government.

Counter-terrorism chiefs have played down fears of a major

attack on the Games, and Prime Minister David Cameron said that

a safe and secure Olympics was his priority.

Suicide attacks on London on July 7, 2005, the day after

London was awarded the Games, killed 52 people. This year the

Games will mark the 40th anniversary of the 1972 Munich

massacre, when 11 Israeli Olympic team members were killed by

Palestinian militants.

"This is the biggest security operation in our peacetime

history, bar none," Cameron said, "and we are leaving nothing to

chance."

ARCHERY WORLD RECORD

Although no medals will be awarded until Saturday, the

women's soccer tournament started on Wednesday, and on Friday

South Korean archers set the first world records of the Games.

Im Dong-hyun, who suffers from severe myopia and just aims

at "a blob of yellow colour", broke his own 72-arrow world

record with a score of 699 out of a possible 720, leading his

two colleagues to a record combined score as well.

The Games' first medals will be decided in the women's 10

metres air rifle final on Saturday, with the big action coming

in the men's cycling road race, where world champion Mark

Cavendish is favourite to become Britain's first gold medallist.

In the evening, Americans Michael Phelps and Ryan Lochte are

scheduled to line up for a classic confrontation in the men's

400 metres individual medley final.

Phelps, competing in seven events after winning a record

eight gold medals four years ago in Beijing, is bidding to

become the first swimmer to win gold in the same discipline

three times in a row.

"This is going to be a special race," said Gregg Troy, head

coach of the American men's team. "I can't imagine a better way

to promote our sport than a race like this on the first day."