well, London's surveillance cameras are peanuts compared to this idea. I actually don't have much argument with monitoring PUBLIC behavior and catching red light runners and bank robbers and shoplifters, etc.
But when they get close to reading my private emails or tracking what I buy and what websites I visit, I get quite grumpy! I run standard firewalls and other stuff, and I 'know' how to use unbreakable cryptography, if it ever comes to that, but it is difficult to cover all the bases.

(and *grin*, a checker at Safeway TOLD me to simply re-register my supermarket card using a fake name if I didn't want to be monitored! I'd lose a few privileges, but would still get the standard discounts)