Gerrard CAN do those things you mentioned. I've seen Gerrard play defence-splitting passes through the middle, 40/50 yard crossfield passes, not to mention him being able to control the ball, great first touch, beat players for pace and cross.
Fabregas will be a World-class player, for sure. But I would rather have Gerrard in my team, at the moment. I'm not a Liverpool fan but I recognise what a great player Gerrard is, and he has had to singlehandedly carry the liverpool team on numerous occasions, not just by shooting well.