I daily eat 5 -7 table spoons of extra version olive oil mostly sprinkling on food, salad. any health benefits, or concerns from the saturated fat.

Only calories!: There is little saturated fat in olive oil, which primarily is monosaturated fat, the fat with health benefits, and which also moderates your cholesterol and increases hdl. The only downside is the extra calories. If you are on a low carbohydrate lifestyle, it wouldn't matter. But on a conventional diet it would. It is a good idea to replace saturated fat with monsaturated fat when you can!