Is Information Overload Over-Hyped?

Have we become a society of whiners when it comes to information overload? The problem is that people don't have tools to filter information down to the most useful bits with minimal effort. The only choices we have right now are to take everything through our various media sources or shut ourselves off from potential opportunities. Of course that's a false choice because when we let ourselves be inundated by information we miss things anyway--time is the ultimate arbiter of attention.