It's a pretty cool read. This article (2 pages)
compared RAPM according to PER and WS/48 to see who is underrated/overrated.
Everyone knows what PER is. It basically quantifies the the per-minute productivity of the player using box score stats. WS/48 tries to calculate how much a player contributed to the team's total number of wins.
Instead of using your box score stats (before it changed to something else), RAPM uses your +/- stats, adjusts it according to your teammates and opponents, and "regularizes" it.
Anyway, according to RAPM when compared to PER, Kobe and Nash are two underrated offensive players from 2001 to 2012. Baron Davis is also up there. If you compare it to WS/48, names like Pierce and Mike Conley come up. Shaq's impact is also somehow underrated. Lol. When you look at the most overrated offensive players, names like Bynum, Gortat, and Rondo come up. The author was surprised to see Rondo's name come up. Lol.
In terms of overall impact (both offense/defense), Garnett, Rasheed, Ben Wallace, Battier, Artest, Sefolosha, Deng, and Conley, Bowen are underrated. What do they all share? Defense. Box score stats or PER fail to quantify defense, and these players end up being underrated because of that.
Meanwhile, Durant, Al Jefferson, Gooden, Brook Lopez, Boozer, and even Bynum are overrated.
On defense, Bogut, Haywood, and even Nick Young are shown as underrated.
This is obviously not perfect. Durant wasn't that good when he came into the league. He was awesome this past season, but I think since this takes the average of 2001-2012 (did not take into consideration his most recent season), he came out as being overrated. Anyway, interesting read. :)