I'd have to agree with both of you guys that Master Cheif and Mario are both overrated. Sure their games are good, but people always exaggerate about them >_>. I don't think I know a game character who is underrated. Then again, I don't play much games.
Ryu is defitenly overrated. (HADOKEN till your brain turns into goo.)
And my underrated chracter is..
The three battletoads, Awesomeness in a can of radioactive goodness! Their underrated because people think Street Fighter IV is cheap. The only thing as cheap as BattleToads nowadays has to be Ninja Gaiden. At least now you can SAVE. Let's not rehash the Motorbike Level in battletoads, one of the only levels in history that made you want to break Not only you controller but you SNES, your TV, your partners face, your face, and the face of all others around you! Good times, good times.