I've tried a lot of high-end olive oils and Monocultivar Biancolilla is near the top of my list. This oil has a true pedigree because it comes from a single Sicilian organic farm and is cold-processed which differentiates it from other olive oils. Most other olive oils are blends consisting of cheaper tasteless oils from places like Spain or Portugal.
Store brand oils are virtually tasteless but are fine for cooking. Others disagree and would use this liquid gold in everything. They're probably the same people who cook with $50 bottles of wine. Olive oil in general is not so great for frying since it has a low smoke point and burns easily. Extra virgin olive oil smokes/burns at even a lower temperature. In other words, this is an oil best used cold. It's great for dipping bread, salads and as a finishing oil on soups or vegetables.
This oil has a little bite and is packed with flavor. It compliments, as oposed to overpowers, your food. I recommend it without reservation.
The farm where this oil comes from is relatively small and produces under 10,000 liter of oil/year. This accounts for the high price. If you want a less expensive oil that is almost as good try
Olio Carli Extra Virgin Olive Oil - 500ml Bottle (0.5 liter) by [...]. A quick web search and you can find 3 liters for thirty dollars and free shipping. I can't post the link but if you find their website add a slash offer to the address.
One last thing: Extra virgin olive oil by definition has to contain a minimum percentage of EVOO. The rest is just regular olive oil. Monocultivar Biancolilla use a much higher percentage of EVOO than is required resulting in a superior product. Keep in mind that Italy produces twice the amount of olive oil than they have trees for because they import and package cheaper oils -- technically they are Made in Italy.