I've always seen it as something currently harmless that the health authorities need to keep an eye on.

We have limited resources, so putting too much effort into swine flu distracts from normal flu, and could lead to more fatalities overall. In the UK we've already had cases diagnosed as swine flu when they were actually meningitis or kidney infection, with at least one fatality as a result. We shouldn't go over-board on this. Sometimes the cure is worse than the disease.

Well, yes, but life isn't safe. I'm well aware that historically some of the most lethal pandemics were preceded by much less lethal precursors. What I'm not sure about is how often the less lethal forms turn into the more lethal forms. I suspect it's actually quite rare. All serial killers drank milk as a baby, but drinking milk as a baby doesn't make you into a serial killer. The current mild pandemic isn't necessarily a precursor to a more serious one.

Obviously health authorities would be remiss not to keep an eye on it, and make sure their emergency plans are up to date. They'd had a 6-month warning, a chance to get their act together. But it probably won't materialise and the rest of us ought to be equally worried about completely unforeseen threats.