Is warrior aggro greatly exaggerated?

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It really just depends on the gear of the party's melees

Root is a good bandage to fix a tank's aggro problems but isn't perfect for every situation. Root gives a lot of aggro to the caster, and if your cleric for example is having to constantly root that's probably going to significantly affect their ability to med.

An warrior equally geared to a SK/Paladin will probably edge out in damage, but it isn't very noticeable until triple attack at 60.

A poorly geared Paladin can still hold aggro just fine by spamming Flash of Light while Ragebringer rogues go ham on a target's back, meanwhile a poorly geared warrior will have no chance at doing his job as a tank without outside roots.

While I was leveling my moderately twinked warrior (Less than 20k in armor/weapons) there were very few times when aggro was an issue during normal play. The problems arose however when things when south. A knight has tools for snap aggro to get control of mobs rampaging on the casters, as a warrior I have to pray for taunt or a few lucky procs.

Warriors are fine tanks for xping, but in most cases I'd rather have the safety net that a knight's snap aggro brings if I'm a caster or DPS in a group.