Now that London 2012 have released the torch relay map that shows the route it will take across Britain, it looks like we will have to travel to Failand or Flax Bourton to see it.
You can view the map here: http://www.london2012.com/olympic-torch-relay-map
I wrote to them to find out what the dashed lines mean (there is one going through LA) and received this response:
Please be advised the the dashed lines indicate when the Flame is travelling in convoy mode e.g. being driven between communities, the Flame will not be visible to the public. To avoid any confusion LOCOG and the host local authorities are focused on publicising the streets where the Flame will be carried by Torchbearers. We do not want the public to line any streets we drive down because they will not be able to view the Flame.
Here is where you can see it though:
Failand - Wednesday 23 May, 07:33 start
The torch will be carried from the North West edge along the B3128 to the traffic lights.
Flax Bourton - Wednesday 23 May, 06:20 start
It will move along the A370 to Backwell, then turn north up through Nailsea.