Thanks for the welcome everybody. I'm just posting things as I learn about them. It's a fun topic to investigate for a lot of reasons.
William... I can only answer that by saying that when I first heard about the FLORES discovery in 2004 I was elated. Flores had become a happy fun-time place for me full of joy and vindication. Mostly vindication. (*In your face Mr. It-cannot-exist guy!)
...snip...
Here at JREF, most of us don't actually say "it can not exist". We say "it's unlikely to exist", and if eventually reliable evidence is found, we'll say "WOW We were wrong! Cool!". Our main disagreement with some footers is regarding the quality of the evidence presented so far. But we've already spent too many letters on this.
Well, what follows is a long OT digression, but I guess it gives us something that may be interesting to discuss.
On the use of myths to back the reality of cryptos (I hope no one will ask what a crypto is). IMHO there are three main issues that I think must be taken in to account when dealing with myths. Let me tell you why, presenting you a bit of personal experience -anedoctal, mostly

. Yes, I know, since its based on my personal experiences, I may be providing a biased POV.
(1) While some mythical creatures may have a real background, most are probably just fantasies. Note that this real background may be something quite different from the mythical creature. For example, among the background for the cyclops myth were elephant skulls. And elephants are very different from one-eyed giants. So, where to draw the line? There are tales and myths of what could be called "small people" at a lot of cultures. Some look like miniature humans, some are hairy and monkey-like, some have wings, some have some weird anatomical features, some are good, some are bad, and so on. All these creatures have or had some real counterpart? I think that quite possibly not, and that most likely most are just fantasies. Now, with this in mind, how can we be sure that
H. florensis inspired ebu gogo tales? Maybe it was just a coincidence, after all... Or maybe they actually did inspired. However, my point is: most mythical creatures are probably just that- mythical. And its very hard to draw the line in some cases. In some not, since I think most people would agree that a chimera is almost certainly just a myth, while there's something behind the kraken.
(2) What animals would impress native people enough to become a legend and for how long they will remember them? Bigfeet myth -as well as other cryptos- may be a "cultural memory" from a creature that nowdays is extinct. Back in the early and middle 90s I was in the academic world and deep in to speleology (pun intended). By this time, a paleontologist named Castor Cartelli described a species of fossil monkey named
Caipora bambuirorum from remains found at a cave in Bahia (Northeastern Brazil). It was a large arboricolal monkey (think of a big howling monkey and you'll get the picture), that lived at tropicak rainforest that once covered what is now a semiarid area. The animal was named based on the supposition that it inspired the caipora myth. Caiporas, according to native brazilian lore, are supposed to be little hairy human-like creatures, with it's feet pointing backwards, that ride wild boars. Now, I spent some time discussing this with some geos, paleos and bios friends, some of whom have actually helped Cartelli at some point. Now, my point was, why fearsome creatures like Smilodons are not present in native brazilian lore? I still remmember the impression I had whe I saw for the first time a
Smilodon skeleton. The thick bones were a testimony to the beast's strenght. There were plenty of remakable animals at Brazil in the Pleistocene, such as
Glyptodons (giant armadillos that looked like tanks), mastodons and giant terrestrial sloths (more on this particluar one later). There are some petroglyphs showing animals from the megafauna, arrows and spearheads were found in association with
Toxodon and giant sloths remains, current native Brazilian populations have no myths that can be correlated with these creatures with some certanity. So, why none of these magnific animals are recorded in current legends? The fact is that with time, not only cultures change but populations and civilizations are changed, substituted or destroyed by wars, ecological changes, etc. So, in 10Ky, a lot of things can change in a culture, and these records can be lost.
(3) Quite often myths can only be correctly interpreted within the cultural background that originated them. When one interprets the sasquatch and similar myths as an unknown primate, we may be completely changing its original context and bringing a new meaning that may not be propper. Foloow two examples:
a)The mapinguari, a creature from Amazonian lore, is interpreted by some cryptozoologists either as a bigfoot-like animal or as a surviving terrestrial sloth. The original legend talks about a stinking (OK) tall humanoid (OK) that leaves twisted branches at its trails (OK). But the mapinguari is carnivorous has a single eye, a huge mouth in the belly, alligator-like skin and a turtle-like armour at its back. These "details" were conviniently ignored. To say it is a bigfoot or a giant sloth is to twist the myth, and not to interpretate it.
b)Can't remember the name right now- the beast is supposed to live in some lakes from central Brazil. They were, according to some, a recollection from
Toxodons. By then, it was supposed that these animals were aquatic, somehow like hippos. A person I know showed pictures of how Toxodons were supposed to be (the painting showed the animals in a lake or swamp) to an indian, who promptly recognized it as the mythological beast in question. However, new studies showed they were actually terrestrial grazing animals, so the link was just bunk. Shades of mokelembembe here...