Look who is first on the list..............................comes as no surprise to me Hint : his passer rating has steadily gone up in each of his three seasons (76.1, 81.7 and 92.8). http://www.nfl.com/photoessays/0ap3000000494992/allunderrated-team
I think TE Dion Sims will be underrated this year by other teams. Tanny will likely get the overrated stigma this year. Philbin is the ultimate underdog. He stands to ressurect his career with a good showing this year.
"Under-rated" is an interesting term that is really quite nebulous. Some guys are just above average and therefore aren't really known but generally contribute positively to their respective teams. That can make someone "under-rated" just because they never get mentioned. Other guys are really good players and yet don't get the appreciation because they play with or around other elite guys who generally get the credit. For example, there several players on the Panther D not named Luke Kuechly that are quite special. And yes, there those like Wake that are definitely well above-average, if not elite that just play on teams which aren't around come Play-off time.