French skier Antoine Deneriaz won a shock downhill gold after a stunning late run, while Scots Finlay Mickel and Roger Cruickshank were down the field.
Deneriaz was the last of the elite skiers to race
South Korean Ahn Hyun-Soo took the men's short track 1,500m as rival Apolo Anton Ohno slid out of the semi-finals.
American Shaun White won the snowboard half-pipe, but Britain's Dan Wakeham failed to reach the final.
Elsewhere, Italian Armin Zoeggeler retained the men's luge title, while Adam Rosen led British hopes with 16th.
Meanwhile, American figure skating star Michelle Kwan has withdrawn from the Olympics because of injury.
Seven-time Olympic medallist Kjetil Andre Aamodt injured his knee in Sunday's downhill and will not defend his Alpine skiing combined title on Tuesday.
DAY TWO EVENTS
Antoine Deneriaz, the last of the top 30 racers to compete, sealed gold in the downhill with a breathtaking run.
Austrian Michael Walchhofer was the long-time leader of alpine skiing's blue riband event after clocking one minute, 49.52 seconds.
But France's Deneriaz shattered his hopes as he came home in 1.48:80.
Walchhofer won silver, with Switzerland's Bruno Kernen taking the bronze.
Britain's Finlay Mickel could only finish 25th, with fellow Scot Roger Cruickshank in 37th.
Kristina Smigun of Estonia claimed gold in the women's 15km pursuit after World Cup leader and favourite Marit Bjorgen of Norway dropped out before the midway point of the race with a stomach problem.
Smigun made a strong push through the stadium at the end to overtake silver medallist Katerina Neumannova of the Czech Republic, winning in 42 minutes, 48.7 seconds - 1.9 seconds ahead of the runner-up.
Russian Evgenia Medvedeva took the bronze.
The field was without Germany's Evi Sachenbacher Stehle, who is one of 12 cross-country skiers serving five-day bans after tests revealed abnormally high red blood cell counts.
In the men's 30km pursuit, Russia's Eugeni Dementiev prevailed in a thrilling finish.
The 23-year-old burst past his rivals just as Pietro Piller Cottrer looked set to win Italy's first gold of the Games before an enthusiastic home crowd.
Piller Cottrer had to settle for bronze behind double Olympic champion Frode Estil of Norway who recovered from a fall at the start and worked his way through a field of 77 athletes to take silver.
Favourite Shaun White recovered from an early mistake to win the half-pipe with some dazzling tricks.
The 19-year-old, nicknamed the 'Flying Tomato' because of his red hair, fell on landing after a jump on his first run.
But there were no mistakes with his next three attempts, and his mark of 46.8 was good enough for gold.
Team-mate Danny Kass took silver with 44 while Finland's Markku Koski won bronze on 41.5.
Devon boarder Dan Wakeham, the first British male snowboarder at a Winter Olympics, finished 26th with a score of 27.8.
Lars Bystoel underlined Norway's strength in the ski jumping competition as he took gold in the individual normal hill event.
The 27-year-old reached 103.5m at his final attempt to win with a points total of 266.5.
Finland's Matti Hautamaeki took silver with Norwegian Roar Ljoekelsoey completing the podium places.
Title favourite and World Cup leader Jakub Janda was way off-form and finished tied for 13th while five-time world champion Janne Ahonen of Finland was sixth.
The competitors faced the tallest task in Olympic history at Pragelato's 106-metre hill - more than ten metres over the usual "normal".
Three-time world champion Ahn Hyun-soo won the men's 1,500m title in short track skating after American rival Apolo Anton Ohno slumped out of the semi-finals.
Ohno, who won in Salt Lake City when South Korean Kim Dong-Sung was disqualified for blocking him, lost the opportunity to defend his controversial crown with a hot-headed error.
He stumbled while battling China's Li Ye around the bend into the final lap and eventually came a lowly ninth in final B on Sunday.
Ahn's compatriot and triple world junior champion Lee Ho-suk took the silver in the main final and China's Li JiaJun, competing in his fourth Olympics, won bronze.
Britain's John Eley also failed to reach the final.
After qualifying from his opening heat in third, the 21-year-old left it too late in his semi-final finishing fifth out of six.
Britain's Sarah Lindsay went through to the quarter-final of the women's 500m but Jo Williams failed to get through in the very first heat.
Teenager Ireen Wust led home a Dutch one-two in the women's long-track 3,000m event.
The 19-year-old was an early pacesetter and held on to take gold in a time of four minutes, 2.43 seconds ahead of veteran team-mate Renate Groenewold, while Canadian world record holder Cindy Klassen took bronze.
The luge ended dramatically with Italy's Armin Zoeggeler retaining his men's singles luge Olympic title.
The home favourite finished just 0.110 seconds ahead of Russia's Albert Demtschenko, with Latvian Martins Rubenis grabbing bronze.
German Georg Hackl, a medal winner in all five of his previous Olympic campaigns, is retiring after the Games and could only finish seventh.
British fortunes were mixed, with Adam Rosen impressing in 16th, and Mark Hatton slumping to 35th after losing control on his third run.
In the women's ice hockey, Canada defeated Russia 12-0 , while the United States beat Germany 5-0.