Olympic TKD for me is a boring sport as well. Granted, the fighters have speed and precision, but last time I watched some Olympic fights on DVD I spent most of the time using the fast forward button to avoid all the waiting and skipping on the spot.
Being both Olympic TKD and WAKO Kickboxing instructor, I prefer by far watching point-stop competitions like in WAKO. They don't really resemble a real fight, they're a game of tag, the contact is very limited, but there is action - shorter rounds than in Olympic TKD, more active fighters, more different techniques, coloured uniforms - definitely more of a spectator sport to me.