http://qed.econ.queensu.ca/working_p...ed_wp_1097.pdf
Here's a great analysis of the Vancouver games. I think it values some of the benefits to highly and it states such in its conclusion but it considers infrastructures costs and benefits very fairly.
It's a good read
Net loss of the games is 110 million. So in the end hosting the oloics go Vancouver some infrastructure it needed at an inflated cost.