I can agree with many of you, but I'm surprised that someone actually said Phish. Now, I'm not a big fan of their music, but how many other bands do you know can play a 3 hour set, go play somewhere else and not repeat a single song. In fact, they have been known to go and play 5 nights and not repeat a single song. I think that's pretty amazing.
Tool - Not Overrated, because nobody that I know even rates them.
The Hives and the White Stripes - Like Them But overrated
Avril - So overrated she needs to die
Good Charlotte - Overrated and overcommercialized.