Weird the wikipedia entry doesn't really point to anything damning. In fact the last part has some indications it could be used to treat certain types of neurotoxic conditions. It also suggests you can still buy products which contain it. I think the side effect of steatorrhea may well be the main reason then since it is just really unpleasant .
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It actually made us feel good for eating potato chips because it was fat free!
It wasn't fat free though if I remember correctly - they replaced a third of the fat with the olestra/olean but yes the way they sold it was guilt free snacking.
You're probably right. It was several years back.