Olive oil's smoke point is highly dependent on the variety. Refined olive oil is just as useful for high-heat frying as just about any other. Extra virgin, on the other hand, is not something you want to cook with.
In Turkey we have a variety known as "naturel sizma", which is what comes off the olives before pressing even begins. In contrast to other olive oil varieties, it's appearance is cloudy, and you can barely warm it before it starts smoking.
Seriously your cooking can get a lot better aka will taste a ton better because your not cooking at the right temperature for most of your food.
PS My wife said the same thing when we got married. She would now slap out of any one's hands if they even tried to use Virgin Olive Oil on anything besides salad dressings and hummus.
PSS Food channel quick cooking shows are really poor.
In Turkey we have a variety known as "naturel sizma", which is what comes off the olives before pressing even begins. In contrast to other olive oil varieties, it's appearance is cloudy, and you can barely warm it before it starts smoking.