H1N1 influenza can undergo reassortment, due to its segmented genome. Which is why this strain is of interest. Not only that, but the vaccine issued this year is not effective due to different capsid proteins (the virus looks different).
While it is not very virulent, if it underwent several mutations it could be ultra-virulent.
lets use the 1918 flu epidemic that killed a lot of people. It killed people our age (15-30 year olds). This is because it caused a hyperactive reaction of the immune system called a cytokine storm. The elderly and young were not as severely affected due to the same reason they are usually at high risk for normal flu strains; the lack of a good immune system.
When young people die from a flu infection, it is because of the host's immune response, not from the actual infection.
Work has been done to identify the cause of this mutation, and it has been located as a single amino acid mutation, related to a point mutation in the genome.
The hype around the swine flu was due to preliminary action by the CDC. They want to flex their muscles and make sure they are doing all they can to control such epidemics.
So yes, you probably shouldnt worry too much about dying or contracting the swine flu, but the reason for it's popularity is due to inter-government cooperation in practicing disease control on a global scale.
/rant