I really think the whole Rooney hype was a British thing. At least over here, noone considered Rooney Ronaldo's or even Messi's equal. In 2004, everybody was excited over Ronaldo but the stories of Rooney being a prodigy or the "white Pele" never made it until here. I only read of these opinions when I started reading the Redcafe some years ago and was really surprised he was considered that good. I also still remember the indicident between him and Cristiano at the WC 2006. There wasn't even a question mark behind who was the better talent back then and many even laughed at Rooney for taking himself far too important.
Cristiano really announced himself to the world in 2004 at the Euros. One year later, Robinho became known as the new Brazilian wonderchild with Pele declaring him his heir and the one to surpass him. In 2006 I heard of Messi the first time and people soon labelled him the new Maradona. After Robinho's move to Madrid, it initially was all about Robinho vs. Messi (new Pele vs new Maradona, Argentina vs. Brazil, Barca vs Madrid) while Cristiano got better and better at United and ultimately replaced Robinho both in the discussion and in Madrid.
So from my perspective, Cristiano, Robinho and Messi were the ones getting the greatest hype. Behind them, there were lots of talents like Ibrahimovic, Robben, Iniesta, Aguero, Sneijder, Benzema, Suarez, Higuain, Cassano, Rooney, Gourcuff, Torres or even Adriano and Kaka if you go back two or three years. Probably many more who I forgot.
Rooney belonged into this pool and I would say that a fair share still resided in front of him both in actual talent as well as hype. I'd say Robben and Ibrahimovic were considered bigger prospects while Benzema was probably his equal in the striker department.