Totally overblown. More people die from the Regular flu then the Swine flu. If I remember they did the same thing back in the 1970's. But what do you expect from the FDA that approved NutraSweet.
I remember when it was a BIG news story for about 3 days or so.
Each night on the news they'd say - XX number of new H1N1 cases reported in the state today ! Then a few seconds later in a quieter tone - They'll all expected to recover just fine within a few days.
Historically, inoculation is a young event. Flu will be around forever, but a serious pandemic of flu is not a huge concern because people have natural antibodies for the worst part of them.
Besides that, there was a flu pandemic in the 1920s and that is not far over where we are today.....