Trickett turning failure into Gold?

Australian Libby Trickett is poised for a gold rush in Beijing, based on form and world ranking. Much wiser than when she went to Athens as Libby Lenton, and a world record holder, Libby is reported to have learned from the experience. Back in 2004 Libby buckled under the pressure and expectation and 'only' managed team gold in the relay and bronze in her pet event the 100 metre freestyle. This was considered 'failure' in light of her preparation and it is encouraging to read that Libby views her experience as one of "learning'.
I believe there is no such thing as failure unless we choose it be, or if we let a bad result cause us to quit. We either like a result or we don't, and unless we are willing to learn from the result, then we can not grow and move forward. Most of the world's biggest achievers have succeeded after many a failure. In fact, no-one can succeed without failing first. Often we might place higher meaning to where that failure occurs - especially in the big Olympic spotlight as happened for Libby.
That Libby Trickett has continued to work hard in her sport and win the admiration of supporters, sponsors and peers is testament to the attitude of persistence and an ability to learn from the hard knocks.
What can you learn from your least desired results? What do you need to learn in order for you to succeed?