We all congratulate the place on becoming the 2008 European Capital of Culture. I can imagine a very cultured day by the Mersey. You could visit the Walker Art Gallery in the morning, then pop into the Cavern club. After lunch you might go back to the Walker to take in any paintings you'd missed. Then it would be time for your train.
Actually most of the coverage seems to amount to: "Well, there may not be much there, but they do need the money." Whether this will be enough to bring in the tourists remains to be seen.
Paul McCartney pointed out that it was still "the greatest city in the world", which is odd, since like most loyal Liverpudlians, he doesn't live there, or, so far as I know, have a pied-à-terre. I suspect that the city, with its dwindling population, hideous highrises and fine but long demolished buildings, exists less these days as a place and more as a state of mind, symbolising warmth, wit, artistic endeavour and cheerfulness in the face of adversity. In that respect it resembles Camelot, another mythic site where there isn't an awful lot to see.