Another guitarist whom I consider overrated (and I'm sure you're all going to flame me for this): Chet Atkins.

Yes, it's difficult to compare him to modern players. Yes, he's influenced so many guitarists it's mind-boggling. Yes, I hate country music with the withering venom of a thousand vipers :D . But really, is his music all that great (or even worth examining)? Was he really all that jaw-droppingly skilful?
I just don't get what's so wonderful about this guy!