We should be clear about this before we get into talking about which players at each position are the most underrated and overrated guys: It is is completely subjective.
I can think a guy is underrated because all I hear, read and consume are fans and pundits talking about how a player isn't really that good. You may think that same player is overrated because the people you encounter on a daily NBA discussion basis always talk him up as being one of the better players.
In instances like that, whose reality is wrong?
There are plenty of times in which the two worlds intersect in a balanced way. We may think Ty Lawson is underrated because not enough people talk about him. It's also possible we find Kendrick Perkins to be overrated because his defense isn't made for the more athletic NBA we watch today, and his offense makes puppies sad.
However, getting people to agree universally on which players are and aren't rated properly is never going to happen. People have biases in favor of their favorite players and against those players they choose to dislike.
Want to see people freak out about how good or bad a player is? Ask them who the top five point guards in the NBA are and what the order is.
My method for determining who is overrated and underrated at each position is going off what I encounter on a daily basis. Through Twitter and my job with ESPN, I end up getting a ton of different opinions on a weekly basis about which players are bad and which players are good. I also hear a lot about which players aren't as good as we think and are much better than we think.
Then I compare them with how I view them within the grand scheme of NBA effectiveness and importance.
Many of you will agree with me and many of you will disagree with me. Let's do this.