I'm certainly old enough to remember - and the state of the country right now feels eerily like the early 80s. And that's not a good thing.
I doubt there will be a state funeral - that's just idle speculation, mostly whipped up by the Daily Mail. There is no precedent for it in recent times. The last one was Winston Churchill.
I personally believe in showing compassion to those who would appear not to deserve it - rise above it, and show a little dignity, is my motto. I didn't like to see people dancing in the streets when Bin Laden was killed, and I won't be putting out the bunting when anyone dies.
Where are you going to get your bunting from - assuming you haven't any left over from the Royal wedding?