I think they're over doing it pretty bad. There was an outbreak of swine flu in my town just two weeks ago, at an elementary school. 40% of the kids at the school got it, including five of my nieces & nephews. And then, of course, lots of parents and family members got it as well.
Sounds pretty bad right? Wrong. Every one of them said the same thing: It was the same as the regular flu, with the same symptoms, and it didn't take anyone more than about a week to get over.
I suppose if you have a compromised immune system, or are afraid of the regular flu, then get the vaccine. But if you're a normal person, just wash your hands more often! I spent two days with three sick kids while my sister was at work, and did not get the swine flu.