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If you want to compare look how many goals these players scored with the same age like Torres:
Rooney - 132 league apps in first 4 seasons
van Nistelrooy - almost 100 league apps in 4 seasons - in the easiest goalscoring division in the world (Eredivisie) :D
Ibrahimovic - 113 league appearances in 5 seasons
Henry - 113 league apps in 4 seasons
Torres - 134 league apps in 4 seasons
Plus I think that Torres can bring alot more to Liverpool, not just goals.He has strong character, first touch, he is fast also.
Little overrated player, but he can really be excellent, now he is not... When Henry came to Arsenal, who would thought that he is going to be the best EPL player by many...
Developing your own talent is less risky and cheaper but it takes time and fans want to win now. Benitez needs to win the Premiership next year or he is out and Capello is in(unless England get him first). Big money means win now.
Bringing in older established stars, unless they are Pele, Maradona or of that class (very unlikely) is always a gamble(see Real Madrid).
The key is the ability to evaluate and utilize talent. Fergie and Wenger are great at it. Ferguson's failure came with older players (harder to judge) and Wenger by and large stays way from them. I think United are counting on the presence of Ronaldo and Quieroz to help ease the new player's transition.
If there is a bias against English talent, I doubt that it is nationality driven. Wenger, for example is not going to turn down a great English player just because he was English.
Underlying all this is the notion that a club has an obligation to develop players for the national team and that is simply absurd. Once clubs went public they belonged to the shareholders and as such are open to the highest bidder, whether they are from Thailand, the US or Mars. Everything now comes with a price.