Could work I wouldnt mind that,just use the new stadium for the opening/closing ceremony
It would have to be a new ground to have the running track around it. City ground only had three fully built sides for the Commonwealth games and a temporary stand, then changed to a stadium for football afterwards. Anyway, it will be Birmingham's unless they say they don't want it.
It's pretty much nailed on Birmingham would get it. Better infrastructure, got the London Olympic bid team working on it and about to complete a feasibility study into holding it.
Even so, a new build could take the possibility of having a track included at a later date if need be. Wembley could have a track installed within two weeks if need be at a reduced capacity.