According to a recent study, dairy consumption does not elevate heart attack risk, even after controlling for high and low consumption and several other factors. The authors still fear saturated fat but suggest there are "protective" elements present in dairy products that prevent heart disease. (They should read the first 100 or so pages of Gary Taubes' Good Calories, Bad Calories for a thorough debunking of the saturated-fat-causes-heart-disease myth).
I've mentioned before that for good health, one should consume butter and cream (and feed it to your children). It is very nourishing.