The Toronto Star has an article about the 1938 War of the Worlds panic (the anniversary of which is today)... and they quote me in it! The article argues that the mass panic was much smaller than is popularly thought. I'm inclined to agree with this. My reasons are:
being familiar with the way in which stories about hoaxes are told, I know that the impact hoaxes make is often exaggerated in order to tell a better story. So it sounds a lot more dramatic to say that one million people panicked in 1938, but the truth is that it was probably only a few thousand.
I suspect that the media reported every incident of anomalous behavior that night as evidence of a panic (i.e. every speeding car, every suicide, all loud behavior), whether or not it actually had anything to do with the panic at all;
there really was some chaos in Grover's mill, where the main panic was said to have occurred, but that's because a lot of young people drove into Grover's Mill after hearing the broadcast because they thought CBS might be hosting some kind of event there... in other words, they were searching for a party, not panicking.
Most recollections of the panic turn out to have come from reading newspaper reports about it, not from direct first-hand experience.