I'm not saying he is an elite player. I'm saying he was an elite talent as a prospect. A TE with the size of Jason Witten and the ability to move like Antonio Gates is definitely an elite talent. I'm not saying he makes use of all of that talent, because he doesn't, but his skill set is elite IMO.
Just like was discussed with the CWill pick, there are always players picked later in the draft that in hindsight deserved to go higher. But, of the players picked immediately after Olsen, Weddle and Posluszny are the only players I'd consider better than Olsen. But, we have to think in the context of that 2007 team. We had just used a 2nd Rd pick on Danieal Manning the year before, had a 29 year old Mike Brown coming back from injury, and picked up Adam Archuleta as insurance; so S wasn't a need. As for Posluszny, when you have Urlacher and Briggs in their primes you don't need a 3rd LB who was a high draft pick. We went with the best talent available, which was clearly Olsen IMO.