Check this out Melbourne and Sydney... London now has the most organised cycle hire system where you can pick a bike up from a huge number of locations around London, and depending on how long you ride for you are charged accordingly. If it is less than 30 mins, it is FREE (apart from your annual membership charge).
They are solid, uniform bikes which you pick up from a docking station just like this one in Knightsbridge, and ride away. We were on foot, and it impressed me how many spaces there were. I think I saw serial numbers on the bikes up to about 18000, so assuming they started at 000001, that's a lot of bikes. The docking stations hold between 20-30 bikes, and at the pay terminal it tells you how many spaces are available for docking your bike at nearby stations. I believe if you are a member you can select to see specific destinations too.
The little grey bit on the handle bars is a perch for your stuff, and there is an occy strap attached to secure it. The seats and handle bars are adjustable and easy to set, and remember your settings. I was impressed at how many people we saw riding around, including people in suits!! The ease of pick up and drop off fascinated me too.
Go Green, City of London! Well done!!