The Immigration Policy Center has just released a paper where a cost-benefit analysis to three of the immigration debate options is presented. A "deportation only" option turns out the most expensive, "attrition through enforcement" where immigrants' lives in the United States is made difficult by limiting their options, is also very expense and not likely to be very effective, so why not consider a legalization path? Considering the financial benefits - it surely seems the most viable option.
Here is the link: http://www.immigrationpolicy.org/images/File/perspective/Immigration%20Stimulus%20Perspective%20090109.pdf