There's so many.
Perhaps the most overrated of all time is John Elway. The way the press was carrying on when he won the Superbowl, you would have thought he won the game by himself...lol
A few months, the most overrated (well, overrated by the Texans) was the most recent #1 NFL draft pick; I forgot dude's name...lol...People in the front office, many times I just don't get them.
First, Mario Williams is his name. Second, the Texans got played (AND PAID, I'll bet) by the NFL, in order to allow the Saints to acquire Reggie Bush. Why? One reason, money going into New Orleans for the clean up after Katrina.
Just look at the facts. If it weren't for the Detroit Lions, the Saints would be the bottom feeders of the NFC (and have been, at times, even with the Lions, and you can throw in the Cardinals, as well).
Don't you think it's odd that, all of a sudden, the Saints can play football? Talk about things that make you go, "Hmmmmm...."

As for the Elway comment, because of his stats and his ability to play the position, it was just fitting when Elway final won a ring. The same will be true for P. Manning, IF that ever happens.