Advice on Going to the Isle of Mann TT?

I have it in my head that I REALLY want to go to the Isle of Man TT race in 2012. The race is scheduled for May 28 - June 8th, 2012. Anyone ever been to the TT? Where do you stay? Where’s the best place to see (a small part of) the race? How’s the weather? What’s the best way to get to the Isle of Man? I’m coming from the US by the way, but there is a small chance that I’ll have access to a flat in London during that time if that is of any use at all.