yes, the hybrids are effecient, but the thing that prevents us from unlocking their potential is weight. The primary driver of fuel economy is mass (aerodynamics and engine efficiency are much less important). With an engine, a motor and the battery pack, hybrids are heavy. They are expensive for the same reason. The government supplements the sale of them and the automakers still lose money on every one they sell, yet the consumer is still paying more than for a gas vehicle. You have to drive it for several years before the fuel economy makes up for the initial price difference.
You also have to consider recycling when you talk about pollution / fossil fuel consumption. Where will we put all of the batteries?? Powerplants are also burning more natural resources to make the extra electricity for electric vehicles ("remote polluters")
These factors combined is the reason the Federal government is pulling back all funding of hybrid development and focusing on Fuel cells.
If you could invent a low resistance, light weight battery, you would be super rich and we probably would have electric vehicles.
I would love to build a vehicle someday with an electric motor at each wheel for driving and braking power. It would only take simple software to get the benefits of lockers while retaining perfect street smoothness. It could provide the ultimate traction control by utilizing the maximum grip of each tire. It could be packaged for great ground clearance, too.