As has been said, there are many varied methods to following the fast which have been blessed by the hierarchs of various jurisdictions. I'm not here to debate anyone, and will probably only make this one post. I just want to share my practice.
That said, on a full fasting day, I avoid frying anything, regardless of the type of oil used. I also tend to avoid lavish use of oil (such as dipping for bread, etc.). Yes, the prohibition on olive oil was only for olive oil...but as was said, there was only olive oil then. I don't believe the Holy Fathers would've said "only olive oil, but the rest is fine." That doesn't really compute with me.
The same argument stands for alcoholic beverages. I avoid both wine and liquor. However, I will drink ciders alongside beer, as I believe them to be roughly equivalent.
I will use some substitutes, however, on a limited basis. I will fix toast will a vegetable oil spread (or flaxseed oil spread, quite healthy). I will also use almond/soy milk for IN things, like cereal. I don't really buy the argument that such substitutes are close enough to be "cheating." Then, after attending a ROCOR monastery during a fast and seeing the monks eat cereal with Silk, I was thoroughly convinced it was okay!