I just don't see the hyperbole here, or any basis for your implication that it's the English getting carried away with themselves.
Quite apart from the fact that he's Australian, and the bowling coach so probably entitled to talk his lads up a bit, Saker wasn't seriously suggesting Anderson is McGrath's equal. I think this is pretty obvious if you read what he was saying in context rather than looking just at a headline or the odd quote in isolation. His basic point is a valid one: that the English bowling attack at the moment are highly skilled, have outstanding spells, and manage to achieve some of the strangulating consistency which was the hallmark of Warne/McGrath's bowling.
And nor have the Poms here been talking Anderson up unrealistically. We're all agreed, I think, that he's a damn good bowler - freakishly skilled, to use your expression - but I don't see anyone saying he's as good as McGrath was.
Anyway, the "McGrath is better than Anderson" debate can only run for so long (ie nil seconds) before it becomes sterile, so I'll just add that in my view there are three good things that need to be said about Anderson. First, away from the pitch, he seems like a great guy. Second, the way he has matured into a high class bowler after a difficult start to his career has been admirable. And third, his ability to get the ball to swing either way - both with orthodox and reverse swing - is pretty bloody remarkable.