I love this thread. I read the great book Ghost Grizzly's while working up in Rocky Mountain National Park this summer. It got me really excited to go and find a lot of the locations that he referred to but I haven't had the time to go and check them out. My reason for going would be much more about seeing the areas that the last Grizzly's were confirmed in Colorado (and to witness the habitat that they used) than looking for my own sighting of one... although that would be pretty neat.
I think that Douglasmtn's post is about as good as it gets. He really gets at the core issues at hand. As far as the fact that the CDOW identification book still shows grizzly... I don't think you can make any argument either way on that. There are thousands of non-outdoor people in this state that if you asked them if we had grizzly's, they would respond with a confident yes. So putting them in that book just lets these people know that they are not looking at a grizzly when they spot a black bear. That is not to say that the CDOW knows more than they let on though.