My thoughts:
The hype over Cavendish had been built up far too high. Yes, he is the fastest at the end of a race but needs to get there with everyone else to win. With only 4 team-mates and a lot of people determined to not let him get to the finish in the lead group it was always going to be difficult. The race itself was a tricky one to call as the hills were enough to cause problems but not to really cause too many problems for the sprinters. Small teams makes the dynamics of the race harder to predict.
Allied to the above, the fastest sprinter in the final 200 metres of a race does not deserve to win. A race has many different features which different people will be best at.
Riding for Cavendish made sense - with a bit more help from people who should have worked towards the end then maybe they could have done it. Britain's riders are generally not as good at road racing as tt'ing. In the four monuments competed in so far the best position is Stannard in 59th... Ok, so this is a bit misleading - Millar was injured for much of the time, Stannard worked for others, Froome doesnt do one-dayers and was ill, Wiggins is only doing stage races this year. However, the lack of experience at the sharp end shows that Cavendish was the best plan A. After all, who will GB ride for in the worlds this year?
I only saw the first hour of the race before going out for a ride but i when i saw a quality break of 12 go away early on with GB starting to chase i thought then that things wouldnt go right for GB. The break contained a strong rider from most of the strongest nations, so they were going to push it hard, it wasnt like a flat stage where you get three or four going off the front. I felt that GB should have put a rider up in the break to sit on. Maybe then the break wouldnt have worked, a new break forms, etc, but having a rider who is the freshest in a break of 12 would have been a good option, especially as you could save the likes of Froome and Wiggins to mark attacks later on?
In agreement with others, i would have had Millar as the preferred option for the break. Out of the non-Cav options he is the best sprinter and has done well in some of the classics in recent years so would have the most experience in the last few kilometres etc. Maybe in a year or two Geraint Thomas could be a good option. Froome's form from the tour suggests he could be a good one-day rider (big engine, can sprint a bit), be interesting to see if he gives some of the hilly classics a go next year although i think he may be kept back for stage races.