Most of you are pretty young, but this was standard practice back before the 80s. You save the bacon grease and use it instead of Crisco or butter when frying eggs, chicken, salmon patties, etc...
My mother did it, and we ate eggs (among other things) cooked in bacon grease the whole time we were growing up. Among us 5 kids (age 35 - 45 now) not a single one has a weight problem (beyond mild love handles), or high cholesterol. Nor do any of us have any heart trouble.
My mother ate bacon fried food her whole life and is 72 years old now. She's never been over weight and has heart and lung problems caused by smoking for 50 years, but not a single clogged artery or high cholesteral
Most older parents learned this during the depression, or were taught it by their depression era parents. It makes fried food taste MUCH better than simply using lard or Crisco, and it's cheaper. Waste not, want not.
No, I don't eat foods fried in bacon grease anymore, probably because I don't fry foods. I don't fry because it ruins your house, not because I'm worried about it hurting me.
At any rate, to say it's "gross" is silly. It's no more "gross" than using fresh lard to fry... and it adds a lot more flavor. If any of you eat french fries, you're really doing the same damn thing.