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For more on marking an answer as the "Best Answer", please visit our FAQ.Anyway's it's not my monarchy and until they do away with the third verse of the so-called national anthem I will not stand nor serve them in any way shape or form.
Those who criticise the Monarchy always conveniently forget that in 1760(?) the then King agreed to surrender the income from the Royal estates in perpetuity in exchange for provision of the Civil List monies. Last year, as http://www.royal.gov.uk/output/page433.asp will tell you, the Queen gave up �170.8m to get back �36.2m - not a bad bargain for the country.
Abolishing the Crown would also abolish the abstract focus for our national loyalty. We swear allegiance to the Crown to represent the country, our values, our beliefs, our whole way of life. We would need another focus, perhaps the flag like the Americans - or is it illegal to respect the Union Jack these days?
A President would mean Presidential elections, with political manoeuvring and the suspicion (at least) of the buying and selling of favours, as well as the man himself looking to make a packet from his office.
Why should we abolish near a thousand years of history and the way it has developed, except to pander to envy?