Bit *sick* of repeating the same all over again, If you can skim through the link to the thread few posts above the ability of Gerrard has been discussed to death.
In a nutshell, almost all English footballers are trained in 4-4-2 on full sized pitches from their younger days, they have in their DNA to cover every area of the pitch and fight for the ball. Ironically some creepy vocabularies like "blood and thunder", "heart and passion", "box to box" and other terms got developed to glorify them but these things relate little or nothing in rating a footballer outside England.
Gerrard is full of that, he chases the ball and it appears he's all over the park yet the main attributes having good footballing brains are positional skills, reading the game and creative passing. Gerrard is utter wank in all these aspects, also defensively and he compensates it by running around the park like a flat track bully. He has a wonderful striking technique with his right foot, he notches up goals, runs around aim lessly around the park..nothing more.
As for Walcott he is only 20, shown potential. I dont see reasons why he cannot develop in to a very good footballer under Wenger and Capello some of those few managers that dosen't subscribe hit and run football.