Kwan went to Worlds 1998 after winning Olympic silver, and won back her World title.
But generally speaking, I do not see an Olympic medal as being somehow higher than a World medal. It's wrong to diss Kimmie because she finished 6th at the Olympics, when you consider that Torino was Kimmie's first experience at an international championship event. For her to finish 6th was an amazing feat in itself.
The other thing is timing. The Olympics don't always come along at a peak time for all the skaters. If Torino had taken place in 2005, Irina would be Olympic champion and not Shizuka. And if the 1994 Olympics had been held in 1996, Kwan would have been Olympic champion. If the 1998 Olympics had been held in 2000, Maria Butyrskaya would have been Olympic champion. Timing is a key element when it comes to the Olympics, and it works for some skaters and against others. But it does NOT mean that Skater A who one the OGM is a better skater than Skater B who won Worlds.
Does anyone really think Sarah Hughes, for example, is a better skater than Kwan, Cohen or Slutskaya? She was the best on that one night, but the best skater? Absolutely not!