How can I make the most effective use of high-quality olive oil?
In this part of the world, around the rim of the mediterranean, olive oils is very definitely used to dress a salad. This is not usually done by emulsifying everything in a shaker though. Generally, the salad is seasoned with salt and pepper, then drizzled generously with olive oil and a little lemon juice or good wine/balsamic vinegar. This allows the flavour of the oil to stand, and it is nicely complemented by the other secondary flavours.

Olive oil is also used to complement the flavour of fish, baked in foil in the oven after being brushed with olive oil and seasonings. This imparts a special aroma and flavour to the fish. 

The best, and simplest in my opinion, is when for supper or breakfast we just slice some vegetables (cucumbers, tomatoes, peppers, carrots) and drizzle them with olive oil, to be eaten as part of the meal.