There certainly are differences. Specifically regarding lemon there are differences not only in taste, because the lemon olive oil is flavored using the zest of a lemon, but also in acidity. Lemon juice is very acidic, olive oil is not. There are plenty of times where it is completely inappropriate to add an acid.
A better comparison would instead be lemon infused olive oil compared to olive oil and lemon zest. There would still be a difference, but it would be less noticeable. The infused olive oil has had more opportunity to capture the fat soluble flavor compounds in the lemon zest, however the flavor compounds that aren't fat soluble will be forever lost.
That is generally the trade-off when it comes to any infused oil. You will get lots of the fat soluble flavor compounds, but you will lose the non-fat soluble flavor compounds.
As for difference of use in the olive oil and lemon juice case, yes, definitely. You can't always add acids to foods. In the lemon zest case, apart from the slight flavor difference, there's also a texture difference. Of course, if you want something very smooth, pieces of zest wouldn't be a good thing. Apart from those though, not really.
All of these differences still apply both in uncooked as well as cooked preparations.
Depends on the oil, when we infuse like to think of it as steeping not boiling or heating to the point of just below the smoke point as the spices will cook and not infuse, some will also become bitter. I also suggest you put your chilis in all at once or toward the end of the infusion process if you are layering the flavor or want a less intense flavor. Also are your oils for dressings or for cooking? If they are for dressings they will keep their integrity when your process is finished, heating or cooking the oil will alter the taste you may be aiming for. Two different animals. Lastly I personally prefer grape seed or light olive oil for infusing.
Cheers!
EDG
Best Answer
Chilli oil has at least touched chillies (or chilli extract). Pizza oil on the other hand is neither made from pressed pizzas nor flavoured with pizza extract.
English isn't logical. French isn't either, but at least it would use Huile de pépins de raisin, huile (aromatisée) au piment fort (or more commonly huile pimentée or huile piquant) and huile pour pizza, i.e. oil of, (flavoured) with, or for something.