In the latest Cambridge Cycling Campaign's newsletter, there is a very funny article with some of the best photos from Warrington Cycling Campaign's Facility of the Month archives.
I let you enjoy either the CCC page itself or the original website for full size photos but I think one of the clear winner for both waste of money (by the town) and best caption (by the WCC?) is "The Coventry Velodrome".
Blackpool and Nottingham are actually not bad too!