Two things I have always liked about Cauldron Park is that the Cauldron remains in the same location, the stadium, as it was during the Games., and that visitors coming to games could read a little about the Games. The things I don't like are the location, it really isn't in a convenient spot for people just visiting SLC not here for a game, and that the Hoberman Arch is in a frozen state.
Here are a couple of ideas I came up with.
Even though the area had nothing to do with the games, the memorabilia and little museum could be incorporated into the neighborhood between Central Station and the Rio Grande Depot. Use the arch, in it's working form, as a stage for a medium sized neighborhood park or plaza, place the Cauldron at the 300 S "entrance" to the park, but place it towards the street so that it won't be blocked by buildings, and is always viewable from both Central and Rio Grande. Then place other items, like those along the fence at the current Cauldron Park, along 300 S and a new N/S road, engaging visitors into the neighborhood. The Cauldron being visible would act as a way to catch peoples eye and bring them from Central or Rio Grande (if the market locates there) into the neighborhood.
Another idea, would be to incorporate those same ideas into the new market, if it doesn't go in the Rio Grande. "Salt Lake City, Olympic Market"