The re-appearance of an Italian pope would fulfill the "olive" reference because Italy is an olive producing country. The "olive branch" as a symbol of peace might be too vague but a super-pacifist would also fulfill such prophecy. However, if there are one or two more popes yet to become pope, the Benedictine might not be this one and we might not live to see it for a long time. Given the longevity of people nowadays and the long reign of this pope, the next two popes may have papacies that last over 50 years each. In spite of being middle-aged myself, this might be the last election our generation lives to see, especially if the new one is middle-aged himself.
Much like the last presidential election, this conclave might be one of the two most important ones of our lifetime.