Overrated
Rolling Stones - Simply
the most overrated band in history. Their songs are just generally underwritten and repetitive, the albums are padded with filler and their playing is somewhat sloppy.
Bob Dylan - Musically overrated but I gotta give him props for opening up the lyrical paradigm and not giving a f**k about what his audience might think about him.
Bruce Springsteen - He epitomizes populist rock at its most disgusting.
Johnny Cash - Yeah yeah, man in black and all that. Country just doesn't cut it for me and I don't really understand some people's obsession with him without being into country otherwise.
Radiohead - Always mentioned as the artsy choice for nerds like myself but I kinda feel they are more appealing to the mainstream crowd that somewhat feel like they want to be more artsy than they are.
U2 - Not that I really know anyone who actually listens to them, but they're huge, and undeservedly so.
Underrated
Yes - I've managed to turn people onto Genesis, Jethro Tull, Camel, Rush and ELP, but for some reason I'm still to succeed with Yes in that department.
Ween - The best meta-band ever, and noone seems to even have heard about them.
Budgie - Anyone into Sabbath should give these guys a go. More intelligent too.
ELO - Remembered for all the wrong reasons, but few people beat Jeff Lynne at writing stunning hooks in the 70's.
Steve Harley/****ney Rebel - People seem to go on about Roxy Music without even having heard of this dude, although he just as much contributed to what would become new wave and even britpop later on. (censorship
)
Gryphon - I'm out on a limb here, since they aren't that well-known but I urge anyone who is looking for really authentic medieval folk to look up their first album. And they were no slouches on symphonic prog either later on.
Sweet - Past the bubblegum singles, that is. Their albums were filled with more-than-decent hard rock from 1974 and onward.