For some perspective on the potential damage:
discovery
Actually Discovery came out with a movie called "Supervolcano" a while back. The acting was terrible but the science was apparently accurate.
Scary stuff.
From 1,000 to 3,000 earthquakes typically occur each year within Yellowstone National Park and its immediate surroundings. Although most are too small to be felt, these quakes reflect the active nature of the Yellowstone region, one of the most seismically active areas in the United States. Each year, several quakes of magnitude 3 to 4 are felt by people in the park.
Although some quakes are caused by rising magma and hot-ground-water movement, many emanate from regional faults related to crustal stretching and mountain building. For example, major faults along the Teton, Madison, and Gallatin Ranges pass through the park and likely existed long before the beginning of volcanism there. Movements along many of these faults are capable of producing significant earthquakes. The most notable earthquake in Yellowstone’s recent history occurred in 1959. Centered near Hebgen Lake, just west of the park, it had a magnitude of 7.5. This quake caused $11 million in damage (equivalent to $70 million in 2005 dollars) and killed 28 people, most of them in a landslide that was triggered by the quake.
Geologists conclude that large earthquakes like the Hebgen Lake event are unlikely within the Yellowstone Caldera itself, because subsurface temperatures there are high, weakening the bedrock and making it less able to rupture. However, quakes within the caldera can be as large as magnitude 6.5. A quake of about this size that occurred in 1975 near Norris Geyser Basin was felt throughout the region.

