I actually say this quite a bit haha. As with most nuances in language, it depends on your tone. But the way I use typically is a "sure, fair enough" kind of neutral acknowledgment of a statement or opinion. Like you said, it's more ok/ I get your point. I don't know if I would go as far to say it is "approving," it definitely is more neutral for me. I've never used it in any instances like you've mentioned in number one.