Since the Olympics are in Vancouver, I think you shouldn't do a "Canadian" themed thing - but a West Coast themed thing. Because frankly, Canada tends to end at the rockies anyways.
It would be like us having a party for some celebratory thing taking place in Orange County, and having Philly Cheese Steak.
Molson and Labatt's are crap, first off. They're generic beer that people buy when they don't like things with taste.
The main Vancouver-based breweries are Rickard's and Granville Island. Both of which have really good beers. Okanagan Spring and Sleeman's are also good brands.
Canadian Bacon? Oh, you mean Ham.
Food in Vancouver is really a mix of Asian, French and typical Seafood.
Think things like sushi, salmon, crab, lobster, and lots of salad-y type things.
People in this city are health concious to a ridiculous degree.
Ginger beef is delicious, aswell.
And you can't forget about Nanaimo Bars.
But yes, obviously if you want to go with stereotypical Canadian "meals" or "foods", stick with poutine, pancakes, french toast and Kraft Dinner.
Edit: For drinks, just make Caesars. It's the same as a Bloody Mary, except replace Tomato juice with Clamato, salt the rim with celery salt, a few drops of Worcestershire sauce and Tabasco sauce, add a stalk of celery, and enjoy.