A lot of points to respond to.
Aleenf1 - you once again ignored the fact (or are being misleading intentionally) about national titles.  On Wikipedia pages, we use China, Laos, Palestine, Iran, etc. when those are NOT the official IOC designations.  Not only are those now the official names, those are not even the official IOC designations.  Yet, we still use them without question.  It is only with the situation of Taiwan that you make an issue of it.  I am not even proposing the sole use of Taiwan, just it's mention as a parenthetical.  Otherwise, I insist that you use People's Republic of China, Lao People's Democratic Republic, Islamic Republic of Iran, Palestinian Authority, ETC. as those are the IOC designations for those countries.  THAT is where your hypocrisy lies.
Rebskii - People SEE Chinese Taipei, but they don't know it is Taiwan.  Why do you think one of Taiwan's gold medal winners had to declare before the international press in Athens, in English, "I am from Taiwan."?  It is because there is much confusion among people.  I spoke with a couple of Australian baseball fans who made the trip from Australia to see the 2006 Intercontinental Cup here in Taichung.  They didn't know that Chinese Taipei was in fact Taiwan until they started making plans for the trip.  It is not even universally known among sports fans, much less the general public.
As for the domains of Taiwan, Orchid Island and Green Island, among others, are historically linked with Taiwan and have long been administratively a part of Taiwan.  The only counties that are not historically part of Taiwan are the tiny islands with some 10,000 people off the coast of Fujian which produces none of our athletes.  Taiwan is the commonly used phrase on the street domestically, not ROC and not Chinese Taipei.
We are not bound by the opinions and illegal claims of barbarous dictators in Beijing.  
If you look at the good article guidelines, one of them is that the article should provide appropriate information for people who are not necessarily familiar with the subject.  Simply stating Chinese Taipei does not meet that standard because few people know what it is.  A simple parenthetical (Taiwan) beside Chinese Taipei accomplishes one of the standards of good article writing with very little trouble.
Again, if you insist on ONLY Chinese Taipei because that is the IOC designation, then use all of the other IOC designations for the other countries I have listed above.