Want to know how to calculate the incalculable?
Take a player's career Wins Above Replacement (WAR) and divide it by his number of All-Star Seasons (ASS). We must emphasize seasons rather than games, because MLB arbitrarily decided to have two All-Star Games each year from 1959-62. Even if the player appeared in both games in that season, it only counts as one season.
The logic behind the statistic is that only the players with the most wins above replacement should be representing their league in the All-Star Game. If a player's ratio is low, it means he was elected to more All-Star games than he deserved—a pretty good definition of being overrated if you ask me.
I'll admit, it isn't perfect. For starters, the All-Star Game only dates back to 1933, so there's no way of knowing just how overrated Honus Wagner and Ty Cobb might have been. However, it's fairly unlikely that you're old enough to remember anything prior to 1933, so that should be OK for this exercise.
It should also be noted that it was more difficult to come by wins above replacement when there were fewer teams in the league to separate the best starting players from the worst ones. A WAR of 3.0 in 1935 is probably worth about 8.0 in 2005, but I'm not comfortable enough with WAR calculations to determine that handicap.
The statistic is also limited in its ability to calculate a rating for players elected to fewer than five All-Star Games. Therefore, we've limited the scope of this ranking to the 278 guys who played in at least five All-Star Games.
Having said all that, let's see which players have received too much love over the years.