It is kind of funny that Emerson seems to get so many overrated hits. If everyone thinks they are not so great, where are the people rating them that have over rated them? Never owned one, and I do see them as very low on the value scale, and will probably never own one. Plus, Daniel Fairly here on BF says the chisel grind is awesome if it is not backwards like Emerson. Not to miss-represent Daniel, here is where I drew my conclusions from,
http://www.bladeforums.com/forums/showthread.php/979039-The-Chisel-Grind-Why/page2) So, why pay too much for a knife that is not great quality, and not made ideally? So, to me it comes across as a lowly rated knife. Also, Kershaw is not underrated. I love Kershaw, and so does just about everyone who has had them. So, if they are rated highly to begin with, how can they be underrated? If they consistently get rated 9.5 out of 10 on average, it is a bit of a stretch to say they are underrated. I think overrated is when you hear a lot of hype and recommendations to buy a particular knife and you do and you are let down. I think the real question is what are some sleeper brands that are not mainstream yet. I think what a lot of people are really answering for overrated are brands that mainstream people buy (Gerber, SOG, Cold Steel), and think are just the best, when they are not knife guys and are missing out. I work with a guy who has an old Delica, and commented on how nice it was, and showed him my Spyderco (don't remember which one), and in general just talked about how awesome Spyderco was and he said, "yeah Spyderco is pretty good, along with Cold Steel" He is not a knife guy, and just believes the marketing and hype that gets passed around about Cold Steel (not knocking them btw, just presenting reality).
So, for me, I have never had a brand that surprised me when I received it. I gather opinions from knife people here for the very reason of not being surprised when I make a purchase.