I hear loads going on about it (try the radio phone ins), and see it every fortnight during "flag waving / banner with the wittiest slogan" competition at Anfield with all those 5 stars being waved about and the silhouettes of Shankly and Paisley.
The media certainly carry much of the blame though, they constantly big Liverpool up, and consequently they have become victims of their past success as the expectations are immense and somewhat unrealistic, which puts huge pressure on the players and perpetuates the delusion of the fans. They go on about trophies as if they are the be all and end all of football, when in fact the vast majority of clubs never win anything, or have won one or 2 trophies since the late 19th or early 20th century.
When I was a kid in the 60s and 70s I had a grudging respect for LFC, despite being an Evertonian, and I still have many good friends who follow them, but the club has had its soul stolen and completely lost its way. That could be said of football itself, but as one of the highest profile clubs it shows up more with Liverpool.
My work is pretty evenly split between blues and reds with a couple of Man U fans thrown in. I can talk about football with all of them because I dont try to wind them up and consequently they dont try to wind me up either, I know some people like the banter but its not for me. There was a red here a few years back that went to of his way to wind up the blues and got a ****storm back, to each his own I guess 
