That's the way the media works. Just because the flu is off the headlines, doesn't mean it's not out there still.
So far, the death rate is no different from regular flu. H1N1 is noteworthy in its ability to attack very healthy, young people and the fact that it's active at the start of northern summer. It should go quiet for a while as kids in the northern hemisphere break for summer, but it is expected to rebound in autumn. The concern is in the numbers it may effect and if it mutates to something more severe.
There's no reason to panic, but likewise, there's no harm in keeping informed.