A good oil is as important to our body as a good oil for our cars,everytime we take our cars for servicing , the oil is changed with a new filter.

 Our body filter is our Kidneys & they cannot be changed but we have a variety of choice about oils which are good for health, unlike our cars.      

 Olive oil is used in Mediterranean cooking and it has become popular for its properties as a protective for heart disease.

It is loaded with antioxidants and beneficial fatty acids.

It is rich source of Vitamin K ( blood clotting Vitamin) and Vitamin E ( anti inflammation Vitamin), 2 main reasons for a Heart Attack- clotting and inflammation within blood vessels.

Olive oil has high smoking point 410 F or 210 C, means it takes time to heat up for frying.

Routine oils should not be used twice for frying, once frying is done, the oils emit toxic products if reheated and this food fried in reheated routine oils is toxic to health.

Digestibility is not affected if reheated Olive oil is used.

Fumes of reheated Olive oil have less alhydrates which cause adverse health effects.

Cost of olive oil sold in India is high and Purity of oil sold at high price is Suspect.

No Oil is Zero cholesterol as advertised on TV.

My neighborhood lady,age 80+ , slightly obese is busy doing gardening ,and I can see the jars of Mango pickle made by her using Mustard Oil ,while I am writing about Olive Oil and its benefits. She has finished her routine morning chores, she is less dependant on helpers & her lunch will be roti & saag loaded with Desi Ghee . 

Whenever her limbs ache a bit at end of the day, she rubs Til oil on her joints ( Seasame oil). 

She has been using above oils for years, has normal BP & does not suffer from age related problems compared to her peers.

Did I interpret it as Old is Gold.

Yes , you got it right. 

In Rome do as Romans do and in Delhi/ Punjab do as Punjabis have been doing since the time I remember for past 60 + years.