Anything taken to that degree of excess is bound to be bad for you.
Fat does get a raw deal though - most natural fats are fine provided you don't overdo it. It's margarine and so-called low-fat spreads that are actually much worse health-wise for you (anyone remember Gold and Gold Lowest spread - absolutely loaded with trans fats and no longer on sale in the UK) before you even get onto how it tastes
As for cholesterol - your body produces it naturally and in fact you need
to have it for your brain to function properly. My mum followed a really strict low cholesterol diet for years (before Gold Lowest was banned) and her body actually started to produce more cholesterol to compensate for the lack in her diet so she never went down enough on 'recommended' levels of cholesterol to be deemed healthy. Mind you, this was the same doctor who told her she had angina for 11 years when she didn't at all...
Honestly - I think if you try and eat naturally occurring foods to a modest level then you can't go far wrong so why worry about trendy food fads that weren't around during the last several millennia. Eating animals fats and even some high sugar foods kept our grandparents and earlier ancestors in relative good health and weight. You wouldn't catch a caveman avoiding pigging out on succulent fatty mammoth meat when it was in season because it was bad for him - the fat actually helped him survive in fact.
But then there's my celebrated chocolate addiction, so who am I to talk...
I do always try and eat chocolate made from pure organic and dairy products however