No, They Weren't.

Over at the new History Carnival, Ms. Natalie Bennett at Philobiblion contributes the article "Those Ancients Weren't Dumb". (Also admirable is that she's one of the few carnival-goers who actually reports history rather than interpreting it.)

Indeed, Ancient greeks (and others) reached the same conclusions we did: Long ago, giant creaures roamed the earth which resembled present-day animals. They also imbellished the stories to make things fit their ethos, much like scientist do with die-hard commitment to old-earth evolution.

She forgot to mention this little chestnut, though: Cyclops = Wooly Mammoth Skull.