Only four of his gold medals have come from individual events? Only four of his gold medals have come from individual events. Now stop and think about that statement for a moment, and I think you'll come to the realization as to why I'm thinking the criticism of Phelps here isn't warranted.

I wasn't aware that it was possible to win
only four gold medals in an olympiad.
Phelps isn't controlling the media. Phelps hasn't annointed himself the greatest athlete of all time. Phelps isn't pushing his way on to the relay squads. The best swimmer gets that honor. He's wanted on the relay teams. The man's getting the acclaim because he's done the work, not because his publicist put a $100 dollar bill in a few dozen journalists' pockets. He's trained in an ungodly number of events. He's displayed the skills. He won several gold four years ago and he's upped the ante four years later to become the the most decorated olympian of all times in terms of gold....but he's not great unless he does it again in 2012 and 2016? How come Phelps has to be great in four straight olympiads to deserve hype?
Come on. Be fair.