Optical photometry is presented for the quadruple gravitational lens PG1115+080. A preliminary reduction of data taken from November 1995 to June 1996 gives component ``C leading component ``B by 23.7+/-3.4 days and components ``A1 and ``A2 by 9.4 days. A range of models has been fit to the image positions, none of which gives an adequate fit. The best fitting and most physically plausible of these, taking the lensing galaxy and the associated group of galaxies to be singular isothermal spheres, gives a Hubble constant of 42 km/s/Mpc for Omega=1, with an observational uncertainty of 14%, as computed from the B-C time delay measurement. Taking the lensing galaxy to have an approximately E5 isothermal mass distribution yields H0=64 km/sec/Mpc while taking the galaxy to be a point mass gives H0=84 km/sec/Mpc. The former gives a particularly bad fit to the position of the lensing galaxy, while the latter is inconsistent with measurements of nearby galaxy rotation curves. Constraints on these and other possible models are expected to improve with planned HST observations.