While I sympathize with Michelle and think it's too bad she wasn't able to compete, I honestly don't feel all that sorry for her. Just a little sorry. There have been numerous awesome singles skaters in who have won at worlds, but never got the coveted Olympic gold: Kurt Browning, Todd Eldredge, Brian Orser, Elvis Stojko, Debi Thomas, Midori Ito--I'm sure there are plenty more in the more distant past, but those are just off the top of my head.
In my opinion, honestly, if you can't bring it at the Olympics, you don't deserve the medal. Everybody who competes cranks it up for this event, and the favorites have to do it too. In 2002 Michelle should have beaten the pants off everybody, but it was up to her, and she didn't skate her best.
So, I'm sorry that she hasn't gotten the prize she wanted, but I don't think she was up to the task this year, no matter how healthy her body was. Of course, I would have been delighted if she proved me wrong. But she's had two really good chances to get Olympic gold, and she should leave it at that. She's bowing out extremely gracefully and wisely, and I definitely give her points for that. I'm sure figure skating hasn't seen the last of her.