Alberto Del Rio is overrated. He's good in the ring but that's all. For the rest he completely sucks.
It has to be Kofi Kingston for me, he just has nothing to convince me he should be anywhere near any Main events.
And yes, looking at all wrestling promotions, WWE included, Jeff Hardy is far and away the most overrated "wrestler". It's actually a crime to call him a wrestler. Glorified stunt man / spot monkey seems more like it.
I think the most overrated wrestler is probably... Randy Orton. Honest to God, I could fall asleep during his matches.
I know the WWE Superstar we are supposed to pick is to be someone who is "overrated" by the IWC, but I'm going with someone who the IWC doesn't really care for and I REALLY think is overrated and that is Sheamus.
Sheamus is the worst face of all time. He comes out with a constant pretentious look on his face, and a stupid swagger when he walks to the ring. His comedy is BLOODY horrible, and he will never be known as one of the greatest of all time, in terms of wrestling ability.
The only reason he is on top is because Triple H likes him. Anyone who thinks otherwise is kidding themselves on. He has been pushed so hard that he has become painfully bland, and is just an Irish copy of John Cena.
On a side note, I've read news about how Sheamus thought it would be epic if he could fight the Undertaker at Wrestlemania, and also how he went to Triple H and Vince McMahon and told them he wanted to the next "guy", since the WWE is now actively searching for the next Face of the company.
In terms of facing Undertaker at 'Mania - yes, Sheamus, it would be epic for you, but the rest of us in "WWE Universe" would never demand, nor want, 'Taker to waste a Wrestlemania match against you. You have NEVER had a 5-star match, so just NO!
And who the hell does Sheamus think he is? Since when can you just walk right up to Management and just ask to be the next face of the company? I think Sheamus, in his mind, believes he is the most over guy in the WWE, when he clearly is not. He is 35 years old and wants to step up as the future of WWE? NOT GOING TO HAPPEN! You're not that over you un-funny, bland, boring, ugly, ego-tistical D**head!
Over-rated by IWC? I'd definitely go with Ambrose. Hasn't done anything to warrant being labelled by some as the "future of WWE".