I know you aren't a Lance fan. And we'll probably have to wait awhile to see exactly what Lance's role was in organizing this event. It would appear, however, that it was not insignificant. Lance and Ritter spoke about the objective of returning pro cycling to Colorado a year ago, and Lance purportedly took it on as something he was going to work on. As you may or may not know, he is a part-time resident of Colorado, owning a house in Aspen and training there last year and this.
That being said, I doubt that the Govenor, despite being a cyclist and a fan, had the time or inclination to do this himself. And lining up Quizno's as the sponsor of the event probably had some non-Armstrong help. But I'd bet that Lance put more than just his name behind it. And that is giving back to cycling, at least in my book.
Perhaps he'll make some money out of it. But if he does, it has to be a trivial amount (after all, if these events were lucrative we wouldn't have seen the Tour of Georgia and the Tour of Missouri collapse). More likely, he's going to get some press out of it and perhaps benefit by keeping his political hopes alive. We'll see.
I did think it was a class act to introduce Davis Phinney as the defending champ of the Coors Classic.