Laura Dolson over at About.com explains the differences and briefly discusses olive processing in a recent post.
Olives, of course, are time-honored components of the Mediterranean diet. I’ve had a few good crops in my backyard here in Arizona.
Steve Parker, M.D.
Diabetic Mediterranean Diet 
The new version of the Mediterranean Diet Pyramid
rates olives highly.
Dave, thanks for the link. It didn’t work for me now, so I’ll try again later.