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Quality olive oil is worth it, but that doesn't mean you should just throw your money away:
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I never knew or thought to look for a harvest date on bottles of olive oil.  Thank you Life Hacker!!!
 
An olive oil, here in Italy, can be called "extravirgin" only if its acidity is less than 1%. A good oil (like that we produce here in Sicily ;) ) is around 0,5-0,3%, sometime even less.
 
Here in Spain olive oil is one of our finest products. From 4 to 8 € you can buy a very decent extra virgin oil.
Beyond that price, every thing else is hype, in my opinion.
 
+Nicholas Howard cannot say about scientific methods, I think you've to evaluate from aroma and flavour. Here many people buy oil directly from oil mills. I would say it's easy to recognize bad oil, but obviously you need to taste good oil, before :)
Like wine, and other natural products, only experience can drive you...
 
nice try cheap oil producers. Good oil however can easily last 1-2 years while keeping its quality. So harvest date "few weeks old" has nothing to do with it. Bogus!
 
+Nicholas Howard I would say they cannot be called experts :)
+Naji Issa you're right, oil older than 1 year is not good anymore, even 1 year old oil is less priced (because less good). I think I misunderstood your sentence... even the best oil is not very good after an year. BTW it's not bad, but not as good as first year.
+Robin Pierce it's a little unfair to blame Italy. This happens everywhere there exist a large business. I could write terrible things about oil all around Europe (or Nord Africa). I agree to buy on your local market, it's easier to check for quality and price.
As with everything, experience helps. If you lack experience, then ask someone you trust.
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