Le Tour is bigger than just one rider.
I would say 2011 was a little more exciting, but this year doesn't suck -- especially if you're a Brit.
When the GC slows down, there's a half dozen other things to pay attention to, including stage wins, KOM and young talent.
As to Contador not TT'ing well since 2009, let's see....
Vuelta a Mercia 2011, Stage 3, 1st place (subsequently scratched)
Vuelta a Castilla y León 2011, Stage 4, 1st place (subsequently scratched)
TdF 2011, Stage 20, 3rd place (on a Tour where he'd spectacularly cracked)
Giro 2011, Stage 16, 1st place (when already up on Scarponi by almost 5 minutes)
Giro 2011, Stage 20, 3rd place (up by 6+ minutes)
Criterium International 2010, 2nd place in ITT (behind Millar by 2s)
Vuelta a Castilla y León 2010, 1st place in ITT
Dauphine 2010, 1st in Prologue
There's no way to know how he'll do in the Vuelta. He could be champing at the bit, he could be cold from being out of competition, he could be
fresh from being out of competition. But he's obviously TT'ed quite well in 2011, and I expect he'll do quite well in the Vuelta's ITT later this year.