The phrase "the greatest thing since sliced bread" (and variations thereof) is a commonly used hyperbolic means of praising an invention or development. Sliced bread appears to be something of an arbitrary selection as the benchmark against which later inventions should be judged. A writer for The Kansas City Star wrote, "the phrase is the ultimate depiction of innovative achievement and American know-how",[15] though the phrase is commonly used in the United Kingdom as well.
http://encyclopedia.thefreedictionary.com/sliced+bread Со смыслом все понятно. А русский аналог какой-нибудь есть?