According to Wikipedia, 4% of young H1N1 infectees are hospitalized and only 5% of those die. The study found that the vaccination increased risk of narcolepsy in children by factor of 6.5. Baseline prevalence of narcolepsy is one in 3,000.[1] So even assuming certain infection with the flu, chance of getting narcolepsy from the vaccination is on par with dying from the flu.

The problem with this vaccination was that it was rushed to the market in the flu pandemia scare without proper trials.

[1]: http://www.ninds.nih.gov/disorders/narcolepsy/detail_narcole...

My two cents: I don't think vaccination is dangerous per se, I think that type of vaccine might be the culprit.